BharatPe launches loyalty-based QR
1 min read 30 Sep 2021, 01:32 PM ISTThe ‘Pay’ feature launched on Bharatpe's subsidiary PAYBACK India's mobile app will help users make payments through unified payments interface-based quick response codes, while earning and redeeming their loyalty points at even small merchant outlets
PremiumBENGALURU : BharatPe will help its 7.5 million merchant partners roll out loyalty programmes, the financial services provider said on Thursday.
PAYBACK India, which was acquired by BharatPe in June, announced the launch of the PAY feature on its mobile app, which will help users generate quick response (QR) codes to make payments using the unified payments interface (UPI) platform. The feature will also allow them to earn and redeem loyalty points at small outlets.
With this feature, BharatPe expects higher footfall at merchant outlets. PAYBACK has 130 million users in India.
“We want to ensure that the PAYBACK programme becomes ubiquitous for all BharatPe merchants. This will help continue to drive customer acquisition and retention for a wider set of merchant partners. In our talks, we realized that large merchants are willing to pay for the benefits," said BharatPe’s group president Gautam Kaushik.
“PAYBACK is a great loyalty proposition, allowing customers to earn and redeem loyalty points. Last year, PAYBACK drove gross merchandise value of $8 billion for partner merchants. I would stick my neck out to say that the proposition is superior to any other loyalty programme in India today. Our vision is to make credit and loyalty integral to every transaction. PAYBACK PAY will put customers in the habit of scanning and paying on UPI QRs," said Ashneer Grover, co-founder and managing director, BharatPe.
