Axis Bank ties up with BharatPe to expand its merchant acquiring business

With 600,000 terminals, the bank is the third-largest PoS acquiring bank in the payments space

Private sector lender Axis Bank has tied up with BharatPe to expand its merchant acquiring business in the country. As a part of the partnership, Axis Bank will be the acquiring bank for BharatPe’s point of sale (PoS) business, BharatSwipe, and will provide acceptance of credit and debit cards for merchants associated with BharatPe.

With over 600,000 PoS terminals spread across the entire country, Axis Bank is the third largest PoS acquiring bank in the payments acceptance business and processed around Rs 19,000 crore worth of volumes in a month. On the other hand, BharatPe’s PoS machine BharatSwipe has an installed