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After demonetisation came into effect in November 2016, digital payments in India saw an immediate surge. And this was further propelled by the United Payments Interface (UPI).  While big fintech players like PhonePe, Paytm, Google Pay, and BHIM power forwarded the digital payment movement, Delhi-based BharatPe has been looking to change the way SMEs view payments in the country.

Vijay Aggarwal, CTO, BharatPe, says,  “We started interoperable UPI QR for payments acceptance across channels where merchants can accept digital payments in a fast and secure manner, with zero cost. Over the last couple of years, we have expanded our product offerings. Last year, we launched lending, which has emerged as one of our key business verticals.”

“While we have diversified across new verticals, payments are still the core of what we do, and other products have been built on top of payments to provide greater value to our merchants. For example, we use payments information to assess lending risk, and merchants can also pay back loans from their payment collections,” explains Vijay. 

As of August 2020, the startup claims to have reached more than four million businesses with its QR codes. In August 2018 BharatPe had 203,119 merchants, as of now it has 5 million merchants on the platform.


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