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BharatPe and the QR code street fight for payments dominance

One-year-old payments company focused on merchants has seen a swift rise standing atop the shoulders of the consumer-focused payments apps. But payments supremacy isn’t the destination for BharatPe, merely the vehicle

30/08/19

Arundhati Ramanathan

One year is enough time for a company doing UPI payments to go from insignificant to challenger

BharatPe with its focus only on merchants, has set off a street fight with Paytm and PhonePe to plaster stores with QR codes

BharatPe claims it’s the market leader with 21 million transactions among offline merchants using UPI. But rivals dispute it

QR codes are a red herring. BharatPe actually wants to bring banking products to merchants

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“I’m probably the dumbest guy [among the founders of payments companies],” says Ashneer Grover, the CEO and co-founder of BharatPe, a payments app for merchants. “But I’m the dumb guy who figured the one thing others were reluctant to do.” That epiphany, he says, was that consumer-focused payments companies like Paytm*, Flipkart-owned PhonePe, or Amazon Pay would want payments to happen on their own network.

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