Beyond Merchants: BharatPe Ventures Into Consumer Payments with UPI TPAP Launch

They’ve rebranded their consumer app, postpe, to BharatPe, unifying the platform for both consumers and merchants.

BharatPe ventures into consumer payments

Source: BharatPe

Suresh, a hard-working confectionery store owner in Kanpur, used to juggle coins and notes with every sale. Customers often came without exact change, leaving both him and the customer frustrated due to the time spent in finding the change. However, Suresh’s life changed when he started taking payments through QR code. Now, with a simple scan, his customers can pay him instantly through UPI, making transactions hassle-free. Suresh has also been able to save a lot of time as he does not need to visit the bank again and again for depositing/withdrawing cash.

This is just one of many stories where digital transactions have empowered businesses across India. Such stories exist in various parts of the country.

In recent years, India has undergone a massive transformation in how businesses conduct transactions. A significant contribution came from BharatPe, which in 2018, launched India’s first UPI interoperable QR code, revolutionizing how small and medium enterprises (SMEs), including offline merchants and kirana store owners accept payments. Fast forward a few years, and the company has become a preferred partner for over 13 million merchants across India.

But how did BharatPe get here and what are they bringing next?

A Partner for Merchants

For millions of merchants in India, especially those in smaller towns and cities, cash has traditionally been the lifeblood of daily transactions. However, challenges arise when it comes to maintaining records. Cash transactions don't leave a digital trail, making it harder to track. Additionally, cash can be stolen easily, lost, or even counterfeited, adding further risks to businesses.

BharatPe identified the challenges faced by offline merchants and introduced India’s first interoperable UPI QR Code with zero transaction fees, that enabled millions of retailers to accept digital payments. In fact, the country saw approximately 131 billion UPI transactions during FY24. This shows how rapidly digital payments have gained acceptance across India, driving the country toward a more cashless economy. 

Tailored Products for Every Need

One of BharatPe’s biggest strengths lies in its wide range of products to cater to the needs of India’s business owners. Whether you are a kirana store owner or a MSME, BharatPe has something designed for every business owner. Here are some of their offerings:

- BharatPe QR: This flagship offering allows merchants to accept UPI payments with a single QR code. No more juggling multiple systems—customers can pay through any app, and merchants receive payments directly into their accounts.

- BharatPe One: This is India’s first all-in-one device that offers features like accepting card payments via insert or tap, real-time payment updates with voice notifications and a portable design, all in a single device, making it the perfect choice for small businesses. Merchants can also easily track transactions through the BharatPe app.

- BharatPe Swipe (POS Machines): With BharatPe Swipe, merchants can accept both card and QR payments, catering to a diverse customer base. Additionally, these machines print receipts, even for QR transactions.

- BharatPe Speaker: Missed a payment notification during a busy day? BharatPe’s speaker solves this by providing real-time voice alerts for every payment received. Available in 10 languages, it’s a hit among shopkeepers across India.

- Easy Loans: BharatPe Easy Loans offer working capital loans without the usual paperwork hassles. Loans of upto Rs. 10 lakhs can be availed through the BharatPe platform

- Secured Loans: BharatPe recently forayed into the secured loans category with the launch of two-wheeler loans and Loans Against Mutual Funds for its merchant partners. The company has partnered with OTO Capital to enable two-wheeler loans. Merchants can avail two-wheeler loans up to Rs 2.5 lakh from OTO Capital, with a repayment period ranging between 12 and 48 months. Also, BharatPe has partnered with Volt Money to offer loans against mutual funds of upto Rs.1 crore.

Transforming Bharat

These tools have revolutionized businesses at every level. Consider the case of Mohd Razi, owner of King Cosmo Salon in Bhopal, who started young and successfully grew his business with the support of BharatPe. He took a loan through BharatPe, which allowed him to expand his inventory and grow his business beyond what he had thought possible. Take a look:

Another example is Mona Katyal, a supermarket owner based in Zirakpur, Punjab. She pursued her dream of opening a late-night supermarket in a city where such markets were uncommon. With the support of BharatPe, she accessed hassle-free loans, which helped her expand her business and increase her inventory. Watch her story:

A Fintech for Everyone

After its success in the merchant space, BharatPe has recently ventured into consumer payments. In August 2024, it launched its UPI Third Party Application Provider (TPAP) solution, bringing the convenience of UPI payments to millions of individual users across India. They’ve even rebranded their consumer app, postpe, to BharatPe, unifying the platform for both consumers and merchants.

The new app will allow users to create a unique UPI ID, making it easy to pay individuals or merchants. Need to pay your electricity bill? Want to send money to a friend? BharatPe’s app can handle all that and more. Customers can also purchase gift vouchers at reduced prices.

Customers can also use UPI Lite, a feature that allows users to preload an online wallet with up to ₹500 for quick transactions without needing a UPI PIN. This is perfect for small, frequent purchases like daily groceries or even chai with friends.

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.

The company has also partnered with Open Network for Digital Commerce (ONDC) enabling users to order food on the app itself. Customers can access over 0.14 million restaurants across more than 400 cities listed on the ONDC network.