2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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HDFC Bank
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Punjab National Bank
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Axis Bank
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HDFC Bank
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Detailed explanation-1: -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.
Detailed explanation-2: -Share. BharatPe, an India FinTech company for merchants, announced a strategic alliance with Axis Bank, the third largest private sector bank in India.
Detailed explanation-3: -HDFC Bank had the highest Point Of Sale terminal market share of about 19 percent as of first quarter of 2021. This private sector bank was followed by State Bank of India with about 16 percent as of that quarter.
Detailed explanation-4: -Currently, HDFC Bank dominates the merchant-acquiring space followed by Axis Bank, which has overtaken SBI and ICICI Bank, both of which have hived off merchant-acquiring to an associate company.
Detailed explanation-5: -Fintech unicorn BharatPe has received in principle approval from the Reserve Bank of India to operate as an online payment aggregator, joining fintech platforms such as Open, Infibeam, Cashfree, Paysharp and Worldline ePayments which already have such approvals in place.