Mr. Ashneer Grover, Co-Founder and CEO of BharatPe. Please incorporate the same in your Yearend stories.
"2020 has been a ‘See - Saw’ year. Post the lockdown, the pandemic acted as a catalyst to the growth of digital payments in the country. UPI itself doubled from 0.9 billion transactions to 2.2 billion transactions. BharatPe has been outgrowing the market and has grown 4X during same period to double its market share since April. More importantly, our lending business has grown 10X.
I believe that 2021 will see a further acceleration in the adoption of digital payments in India. UPI and WhatsApp Pay will continue to be the driver. Also, I believe that next year we will see tier-2,3,4 cities as the key growth drivers for UPI and digital payments in the country. We have set ourselves a target of 5x growth and aiming for US$30B TPV by March 2023.
BharatPe has emerged as the biggest lender to shopkeepers. We disbursed loans of over Rs. 500 crores this year. We are confident that digital lending is set to grow as the businesses try to get back using credit. We are aiming to close the current fiscal at Rs. 1,000 crores loan disbursal and aim to disburse US$ 1 bn (Rs. 7,000 crores) to small merchants and kirana stores by March 2023."
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