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Business EconomyPosted at: Nov 4 2020 2:02PM


Union Bank ex-Chairman Kewal Handa appointed as Independent Director of BharatPe

Hyderabad/New Delhi, Nov 4 (UNI) BharatPe, India’s largest merchant payment company, on Wednesday announced the appointment of Kewal Handa as an Independent Director.

Formerly associated with Union Bank of India and Pfizer, Mr Handa will be joining the Founders – Ashneer and Shashvat, Jitendra Gupta (ex PayU) and Micky Malka (Ribbit) on the Board of BharatPe.
He will be mentoring and advising BharatPe on its overall business strategy as it expands across markets and product categories, the company said in a release.
Mr Handa who was the Managing Director of Pfizer Limited, India from 2005 to 2012, has also been Independent Director at ING Vyasa Bank.
Accorded with various national and international awards, his induction to the Board is in line with BharatPe’s effort to strengthen its leadership team to aggressively capture market opportunities.

The company has been launching new products and services aimed at enabling merchants to grow their business. It has recently announced its plan of disbursing loans of Rs. 1,000 crores to small merchants across the country in this financial year.
Welcoming Mr Handa on our board, Mr. Ashneer Grover, Co-Founder & CEO, BharatPe, said “His (Handa) guidance and banking experience will accelerate our financial services business to the next level. In the current scenario, we are aggressively strengthening our lending and payment offerings, and his insights will be of great value in shaping the right strategies for the brand as we scale up.

''We are confident that Handa’s diverse experience in building global businesses will help us create a credible and profitable business, he added.
On his appointment, Mr Handa said, BharatPe is already the 4th largest UPI player in India and largest lender in SME segment.The new normal has augmented the demand for contactless payments in the country and I believe it is the best time to capitalize on it.
BharatPe has been bolstering its leadership team with hires from the industry. In the recent past, the company has made key hiring at its CXO level including Suhail Sameer as the Group President.
Currently serving over 50 lakh merchants across 35 cities, the company has grown business 30x in 2019 and is a leader in UPI offline transactions, having processed 5 crore+ UPI transactions a month (annualized TPV of US$ 5+ Bn).
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