BharatPe appoints Parth Joshi as

 BharatPe appoints Parth Joshi as Chief Marketing Officer

·         Ex Reckitt and GSK executive joins the leadership team at BharatPe

 

BharatPe, India’s leading financial services company for merchants, today announced the appointment of Parth Joshi as the Chief Marketing Officer at BharatPe. Parth, a global marketing leader, has extensive experience in building brands, across India and overseas markets. 

Parth Joshi will work closely with Suhail Sameer, BharatePe’s Group President. This is the fourth key leadership appointment by BharatPe this year. The company has already announced the appointment of Gautam Kaushik (ex-MD & CEO, PAYBACK) who leads the payments business, Sumeet Singh (ex-Partner, Amarchand Mangaldas) as General Counsel and Head of Corporate Strategy and Amit Jain as the Chief Risk Officer.

 

Parth will bring his in-depth understanding of brands, product development and marketing to fuel BharatPe’s continued growth. In the past, Parth has played a key role in building many brands across geographies in multi-national companies. Prior to joining BharatPe, Parth was the Head of Marketing– Global Expansion Markets, Reckitt based out of Singapore. He has also held various marketing roles in GSK & L’Oréal. Parth is an alumnus of MDI, Gurgaon.

 

Commenting on the appointment, Ashneer Grover, Co-Founder and CEO, BharatPe said, “As we chase bigger ambitions, it is key to ensure that the brand and marketing strategy of the company keeps pace with the our evolving business. I would like to extend a warm welcome to Parth as he joins our leadership team.

I am confident that Parth’s experience with FMCG giants will be instrumental as we aspire to build BharatPe as a preferred financial services and credit partner for tens of millions of merchants. Also, his in-depth understanding of consumer aspirations and behaviour would be key as we build products like BNPL (Buy Now, Pay Later) for the end customers and scale PAYBACK in India in the times to come.”

 

Added Parth, “BharatPe has seen stupendous growth over the last couple of years. It is phemonenal how India has accepted digital payments and BharatPe has been at the forefront of this transformation. I am looking forward to build BharatPe as the preferred brand for our customers. We also have big plans for the consumer side and I am excited to lead and build this business with the team.”

BharatPe announces the acquisition of

 BharatPe announces the acquisition of PAYBACK India

·         PAYBACK India to be a wholly-owned subsidiary of BharatPe

·         Move to benefit 6Mn BharatPe merchants in attracting new customers

·         Enable BharatPe’s entry into consumer side with 100Mn+ PAYBACK users

 

BharatPe, India’s leading financial services company for merchants, today announced the acquisition of PAYBACK India from American Express and ICICI Investments Strategic Fund, for an undisclosed amount. This is the first-ever acquisition by BharatPe and will make PAYBACK India, the country’s largest multi-brand loyalty program with 100 million+ members, a wholly-owned subsidiary of BharatPe. The acquisition of PAYBACK India is in line with BharatPe’s strategy to build a robust and engaged network of over 20 million small merchants by 2023.

With PAYBACK India, BharatPe will be able to enhance its value proposition for the merchant partners. Additionally, it will enable BharatPe to build a lucrative set of offerings for end customers, that will enhance footfalls at merchants and accelerate the growth of their businesses. As a result of the acquisition, all PAYBACK India employees will become part of the BharatPe group. Suhail Sameer and Gautam Kaushik, Group Presidents, BharatPe along with Sumeet Singh, General Counsel, BharatPe, have joined the Board of PAYBACK India.

The role of the senior leadership team at PAYBACK India will be expanded to also work on the loyalty program for the 6 million plus merchants of BharatPe. The team, led by Pramod Mahanta and Rijish Raghavan, will be working closely with Gautam Kaushik, a renowned name in the financial services and loyalty industry in India, to build a new version of PAYBACK India. The company (PAYBACK India) will continue operating under its current name and there will be no impact on the existing customer and partner relationships with PAYBACK India. PAYBACK India will continue to roll out initiatives to offer value for all customers across India.

Speaking on the acquisition, Mr. Ashneer Grover, Co-Founder and CEO, BharatPe, said, “Our products have always been designed to empower the businesses of millions of small merchants and kirana store owners in India. With the acquisition of PAYBACK India, we will be able to add a whole new dimension to our merchant value proposition. In addition to the range of payment and credit products which BharatPe offers to help merchants scale their business, we will also be able to drive more consumers to their stores. We are committed to build India’s largest and most engaged merchant network and this acquisition will be a game-changer in that regard. We are very selective about strategic partnerships & acquisitions, and belive this is a win-win to meet the brand promises of both BharatPe and PAYBACK India.”

Added Gautam Kaushik, Group President, BharatPe , “Consumers today are very aware, and make their choice of purchase based on convenience and value. We aim to empower the offline merchants with the ability to offer additional rewards, coupons or cashbacks to customers, to drive sales and customer stickiness. PAYBACK is a pioneer in the loyalty programs and has a host of offerings to drive value to our merchants, as well as a very large customer base (100m+). We are excited to partner with the PAYBACK India team and jointly build a very compelling payment plus rewards franchise.”

“It was our top priority to ensure that for the members of the successful PAYBACK India program there would be no changes and that the great costumer experience would also be maintained: Users can collect points while shopping offline and online and benefit from exclusive offers in the usual way, now at even more merchants with BharatPe. We are convinced that the great PAYBACK value for customers is guaranteed sustainably and in the long term with BharatPe as the new operator“, says Markus Knorr, CFO, PAYBACK Global.

PAYBACK India was launched in 2010 and has a network of 100+ offline and online partners. It allows its customers to earn and redeem points on every transaction at its partner merchant outlets.