You may not know much about payments company BillDesk, but if, like millions of other Indians, you’ve paid a bill online, you’ve almost certainly benefited from their services. After all, the company’s market share in the digital payments space is close to 80%, according to industry observers.
It wouldn’t be a stretch to say that BillDesk is to India’s digital payments sector what Google is to online searches. The company processes payments worth almost $40 billion annually and has seen profits roll in year after year. In FY17, the company was just Rs 50 crore ($7.5 million) shy of crossing Rs 1000 crore ($149 million) in revenue, according to financials sourced from Paper.vc.
Knock, knock. Who’s there? Bharat BillPay.
BillPay who? BillPay's here to disrupt BillDesk.
BillDesk has built an impenetrable bill payment aggregator business
The NPCI's Bharat BillPay, however, is set to shake things up
By commoditising and standardising the sector through BillPay, NPCI has robbed BillDesk of its differentiators
The new regulated system makes bill payments easy for users, but it opens BillDesk up to competition from the likes of PayU and Paytm