Resilient Payments Private Ltd., a subsidiary of BharatPe Group, has received RBI approval to operate as an online payment aggregator under the new brand BharatPe X.
With this license, BharatPe becomes the only fintech in India to hold an NBFC permit, a significant stake in Unity Small Finance Bank, and the right to act as a payment aggregator.
BharatPe X will target smaller cities, aiming to deepen its reach in tier-2 and tier-3 towns and provide merchants with more ways to accept and manage online payments.
BharatPe's platform currently serves over 1.3 crore merchants in more than 450 cities, processing about 450 million UPI transactions monthly and handling Rs 29,000 crore in annual point-of-sale transactions.