As per BharatPe’s statement, the customers will have access to more than 1.4 Lakh restaurants across more than 400 cities listed on ONDC on the BharatPe app
The customers will also have an option to track their orders on a real-time basis
Besides UPI payments, the company also added an ecommerce section where it’s currently selling vouchers for various brands including Amazon
Days after rebranding its Postpe app to BharatPe, the fintech giant has onboarded government-backed Open Network For Digital Commerce (ONDC) to facilitate food ordering and delivery to its customers via its app.
As per BharatPe’s statement, the customers will have access to more than 1.4 Lakh restaurants across more than 400 cities listed on ONDC on the BharatPe
app. The customers will also have an option to track their orders on a real-time basis.
The company also added that the integration will help around 15 Mn of its customers by eliminating the need to keep multiple apps on their phones.
“We are excited to participate in the ONDC ecosystem to offer a relevant use case to our users, who can now order and get food delivered via our BharatPe app. Also, this resonates well with our mission to empower the growth of local businesses,” said BharatPe’s chief executive officer Nalin Negi.
It is pertinent to note that this development aligns with BharatPe’s vision to become a one-stop shop for all services.
For instance, a few days back, BharatPe, in partnership with Unity Bank, ventured into consumer payment space with the roll out of its UPI third party application provider (TPAP) service.
Post the rebranding of its PostPe BNPL (Buy now pay later) app to BharatPe, the company also introduced UPI Lite, which allows customers to preload an online wallet and make transactions up to INR 500 for both P2P and P2M payments without needing a UPI PIN.
Talking about BharatPe’s ecommerce play, besides UPI payments, the company also added an ecommerce section where it’s currently selling vouchers for Amazon, HealthifyMe, ixigo, Nykaa, Zomato as well as several modern retail and D2C brands.
Now, with this food ordering and delivery offering, BharatPe adds another feather to its Super App cap.
While BharatPe continues to roll out various services on its app, last month, it also increased stake in its non banking financial (NBFC) arm Trillion Loans with an infusion of $8-9 Mn. The company plans to fully acquire
This investment came at the heart of BharatPe securing a debt funding of INR 85 Cr (around $10.1 Mn) from Trifecta Venture and InnoVen Capital through issuance of non-convertible debentures (NCDs).
BharatPe widened its net loss to INR 926.9 Cr in FY23, up 12% from INR 828.6 Cr in FY21. However, Revenue from operations jumped 125% to INR 1,028.9 Cr in FY23 from INR 456.8 Cr in the preceding fiscal.
By Inc42 Media
Source: Inc42 Media