BharatPe’s merchant loyalty program achieves big success
· Clocks 2 lac members in just 6 months of launch of BharatPe Club, its premium membership program
· Company targets 1 million members by June 2022
BharatPe, India's fastest growing fintech company, today announced that
it has received an overwhelming response to BharatPe Club, India’s
first ‘merchant only’ loyalty program. Launched earlier this year,
BharatPe Club already has a member base of 2 lac offline merchants and
kirana store owners across tier-1, 2 and 3 cities and towns. The company
is bullish about BharatPe Club and is targeting building a member base
of 1 million merchants by June 2022.
BharatPe Club offers a host of benefits to its members, including 0%
Loan Processing Fees on business loans, flat ₹1,000 off on BharatSwipe,
20% discount on bill payments, cashback on BharatPe Card, and priority
customer service. Additionally, they can take home exclusive merchandise
signed by BharatPe brand ambassadors. BharatPe’s merchant partners can
become a member of BharatPe Club by paying ₹1,000 as an annual enrolment
fee, and can enjoy benefits of upto ₹20,000.
BharatPe
Club has witnessed huge success among offline merchants across
categories including Grocery, Food and Beverage, Retail, Electronics,
Dairy/Fresh Products, Services, Medical/Healthcare, Automobiles,
Wholesale/Distribution, Beauty and Wellness. The top cities for BharatPe
Club include Hyderabad, Pune, Bengaluru, Delhi, Warangal,
Visakhapatnam, Karimnagar, Vijaywada, Chennai, Mumbai, Indore, Guntur
and Chittoor. Interestingly, BharatPe Club has seen a huge organic
uptake with most of the merchants opting for BharatPe Club, without any
marketing push. The top products preferred by the BharatPe Club members
include BharatPe account (used by 88% of Club members), business loans
(availed by 26% of members) and BharatSwipe machines (opted by 26% of
members).
Speaking on the development, Mr. Suhail Sameer, Chief Executive Officer, BharatPe, said,
“As we grow, it becomes important for us to build an engaged merchant
base and also ensure that we offer a host of additional benefits to our
loyal merchant partners. We recently announced that we will be launching
world’s first ‘Merchant Shareholding Program (MSP)’ with the objective of providing an opportunity to our merchant partners to become part equity owners of BharatPe. As a part of the program, we will be creating an equity pool structure worth upto US$100 mn to be allotted to eligible merchants over the course of the next 4 years.
BharatPe Club was launched with the objective of empowering our
merchant partners and rewarding our loyal merchants with additional
benefits and cashbacks. Over the last 6 months, we have seen great
acceptability for this product amongst merchants across businesses and
locations. BharatPe Club has also contributed immensely to our business
growth as it has helped us build trust and in turn, enabled merchants to
explore additional products from our portfolio of offerings. We have
been able to build a 2 lac member strong BharatPe Club and are aiming to
cross the 1 million mark by June 2022. With BharatPe Club, we intend to
offer a wide range of services to all our merchants, strengthening
their bond with the brand.”
No comments:
Post a Comment