BharatPe UPI Launches ‘Shield’ to Protect Digital Transactions, Ensures Safe and Secure Payment Experience for Consumers

• The new offering safeguards users from fraudulent digital transactions up to Rs 5000
• Users who make their first transactions using BharatPe UPI can avail the Shield service for free for the first month, after that the plan will be available for Rs 19 per month

 BharatPe App, India’s rapidly growing UPI payment service, has announced the launch of ‘Shield’, a comprehensive fraud protection plan aimed at safeguarding digital UPI transactions. Designed to provide users with a secure and worry-free payment experience, BharatPe Shield offers robust coverage and seamless support against digital fraud.

As part of the program, users making their first UPI transaction with the BharatPe App will receive 30 days of complementary fraud protection for amounts up to ₹5,000. Following this free period, users can continue the service at an affordable fee of ₹19 per month.

BharatPe Shield covers risks such as computer fraud, phishing attacks, and unauthorized transactions caused by phone loss. It also offers a pre-reporting period, enabling claims for losses incurred up to 10 days prior to reporting.

To enhance convenience, BharatPe Shield provides round-the-clock support via app, chatbot, and toll-free helplines for reporting fraud and raising claims. With this initiative, BharatPe reinforces its commitment to ensuring secure digital payments for its growing user base.

Commenting on the launch, Nalin Negi, Chief Executive Officer (CEO) of BharatPe, said, “Safeguarding consumer transactions from online frauds and providing a safe and secure payments ecosystem has always been one of our foremost responsibilities. With BharatPe Shield, we are going a step further by empowering our users with a fraud protection plan that secures their daily transactions. This initiative underscores our commitment to reimagining the secure UPI experience for our customers, making security the core of our offerings.”

BharatPe Shield not only provides peace of mind for consumers but also reflects the company’s dedication to fostering a trusted digital payment environment. BharatPe is continuously innovating to enhance security and convenience in the digital financial landscape.

Launched in August this year, BharatPe App’s UPI service caters to a wide range of payment use cases. The customers can use various features, including Scan and Pay, pay to self, pay to merchant, pay to bank, pay to UPI ID, bank transfer, check balance, collect authorization, raise collection request, and utility bill payments across a range of billers in prepaid, postpaid, gas, DTH, electricity bills, and insurance payments category.

Also, customers can buy gift vouchers at discounted prices from renowned offline and online brands across a range of categories including electronic, entertainment, fashion, food, travel, wellness etc. by using the BharatPe app.

About BharatPe Group

BharatPe (brand name of Resilient Innovations Pvt Ltd) was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, it launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 450 million+ UPI transactions per month. BharatPe processes payments of annualized Transaction Processed Value of over Rs. 1.7 Lac Crores. BharatPe Money (brand name of Resilient Digi Services Private Limited), a BharatPe Group Company, has already facilitated the disbursement of loans of over Rs. 18,000 crores, in partnership with NBFCs. Recently, the company also ventured into secured loans with the launch of two-wheeler loans, loans against mutual funds, home loans and loan against property. BharatPe’s POS business processes payments of over Rs. 29,000 crores annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital and Tiger Global. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members. In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the consumer fintech segment with the launch of postpe in October 2021. In January 2023, Resilient Payments Pvt Ltd, a BharatPe Group Company, received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. In April 2023, BharatPe acquired a controlling stake in Trillionloans, a renowned NBFC (Non- Banking Financial Company) registered with RBI. In August 2024, the company rebranded postpe app to BharatPe and ventured in the consumer payments space with the launch of its UPI TPAP. For more details, please visit- https://bharatpe.com/