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Why BharatPe's Business Model is so successful?

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BharatPe’s Company Overview


BharatPe, a prominent player in the digital payment landscape, operates as a merchant payment and lending network company, offering a comprehensive suite of interoperable services. At the core of its offerings is the innovative "scan and pay" service, providing a full-stack solution that caters to the needs of millions of merchants and users. Since its inception, BharatPe has experienced rapid growth, successfully onboarding over one crore merchants across 15 cities in India.

This ambitious expansion has been supported by substantial financial backing, with BharatPe securing over $142.5 million in funding from leading venture capital funds and esteemed angel investors. This robust financial support reflects the company's confidence and recognition in the investment community.

BharatPe's business model revolves around empowering merchants with user-friendly, interoperable payment solutions while concurrently venturing into lending services. By providing a seamless "scan and pay" experience, the company aims to facilitate efficient transactions for both merchants and users. Additionally, the foray into lending services underscores BharatPe's commitment to supporting the financial needs of its merchant network. The strategic combination of payment services and lending reflects BharatPe's vision to create a holistic ecosystem that addresses the diverse financial requirements of the merchant community in India.

https://bharatpe.com/

Headquater: New Delhi, Haryana, India

Foundations date: 2018

Company Type: Private

Sector: Financials

Category: Financial Services

Digital Maturity: Beginner


BharatPe’s Related Competitors



BharatPe’s Business Model Canvas


BharatPe’s Key Partners
  • Payment acceptance providers
  • Banks
  • Payment networks
  • Suppliers
  • Investors
BharatPe’s Key Activities
  • Product development
  • App maintenance
  • Marketing
  • Operations
  • Customer support
BharatPe’s Key Resources
  • More than 1.5 Lakh (150K) merchants on its platform
  • More than $2.5 billion worth of transactions were processed on BharatPe platform on an annualized basis
  • 1000 employees
  • Financial resources
  • Software
  • Hardware
  • Technology
  • Legal
  • Licenses
  • Reputation
  • Traffic
  • Know-How
  • Ecosystem
  • Partnerships
BharatPe’s Value Propositions
  • A QR code-based payment app that lets merchants accept digital payments from customers through UPI
  • banking services to merchants
  • credit and insurance services
BharatPe’s Customer Relationships
  • easy and quick
  • hassle-free
  • any phone
  • any app
  • any platform
  • any time
  • Anywhere
  • Anytime
  • 24/7
  • online
  • self-service
  • automated
  • digital
  • personalized assistance
BharatPe’s Customer Segments
  • Shop owners
  • Retailers
  • Small businesses
  • Consumers
BharatPe’s Channels
  • Website
  • App
  • App stores
  • Social media
  • Telephone
BharatPe’s Cost Structure
  • technology
  • IT infrastructure
  • Maintenance
  • Operations
  • Marketing
  • Legal
BharatPe’s Revenue Streams
  • It is a zero-commission network that allows merchants to accept UPI payments for free or at a very nominal cost and provides them with a single interface for all UPI apps
  • Transaction fees
  • Lending services
  • Value-added services
  • Subscription fees
  • Partnerships and alliances
  • Advertising and promotions

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BharatPe’s Revenue Model


BharatPe makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:

  • Channel aggregation
  • Cashier-as-a-service
  • Cross-selling
  • Disintermediation
  • Ecosystem
  • Franchising
  • Infomediary
  • Integrator
  • Lead web
  • Low cost
  • Low touch
  • Marketplace
  • Network builders
  • Online marketplace
  • Orchestrator
  • Platform as a Service (PaaS)
  • Power on
  • Reseller
  • Revenue sharing
  • Reverse auction
  • Self-service
  • Shared rental
  • Shop in shop
  • Sponsorship
  • Subscription
  • Supply chain
  • Target the poor
  • Tiered service
  • Tradeable currency
  • Trading data
  • Transaction facilitator
Analytics


Market Overview
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  • Sectors
  • Categories
  • Companies
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BharatPe’s Case Study


BharatPe's CASE STUDY

Delving into the intricate world of digital payments and lending services, we find BharatPe as a compelling case study. Founded in 2018, the New Delhi-based company has carved out a niche in India's financial services landscape with its innovative "scan and pay" solution. But what exactly makes BharatPe an extraordinary venture in the ever-evolving digital payments ecosystem?

Genesis and Vision

BharatPe was conceived with a bold vision: to empower millions of small merchants and shop owners across India with a seamless digital payment experience. From its foundation, the company pursued a clear goal: enable merchants to accept digital payments through a single interoperable QR code. At a time when the Indian market was burgeoning with diverse payment apps, BharatPe entered with a distinctive approach—offering a full-stack payment solution where merchants could accept payments from any UPI app. This user-first principle was backed by over $142.5 million in funding from top-tier venture capitals and angel investors (Harvard Business Review, 2022). This confidence from the investment community allowed BharatPe to scale rapidly and onboard over one crore merchants across 15 cities.

Two Sides of the Coin: Payment Solutions and Lending Services

BharatPe's business model harmoniously combines payment solutions with lending services, forming a holistic ecosystem that addresses the multifaceted financial needs of merchants. Payment Solutions: The company's hallmark QR code is a unified solution enabling merchants to accept payments from any UPI app, thus reducing any complexities associated with managing different platforms. This simplicity has proven to be a game-changer, driving BharatPe's market penetration. Statistically, more than $2.5 billion worth of transactions were processed annually on the BharatPe platform by 150,000+ merchants (BharatPe, 2022). This voluminous transaction flow underlines the platform's robustness and reliability, further enhancing merchant confidence. Lending Services: Understanding the financial pinch many small merchants face, BharatPe stepped into lending services. By leveraging transactional data, the company crafts personalized loan offerings for merchants. This service is not merely a transactional arrangement but a lifeline that ensures consistent cash flows for small businesses.

Unique Propositions

Well-tailored for the Indian market, BharatPe adopts several business patterns that make it unique: 1. Interoperable QR Code: Unlike peers who offer proprietary solutions, BharatPe’s interoperable QR code accepts payments from any UPI app, thus simplifying the payment process. 2. Zero Commission Model: BharatPe offers a zero-commission network—a significant competitive advantage in a market where every rupee counts for small merchants. The company charges nominal fees on UPI-push transactions, making it immensely popular among the cost-sensitive merchant community. 3. Accessible Lending: Its foray into lending reflects a deep understanding of merchant needs. By providing quick, collateral-free loans, BharatPe has transformed itself into a comprehensive fintech platform.

A Network of Strong Partnerships and Activities

BharatPe's business model is bolstered by strategic alliances with various key players—payment acceptance providers, banks, and payment networks. These partnerships ensure seamless transaction processing and customer trust. The key activities supporting this intricate machine include continuous product development, app maintenance, marketing, and unparalleled customer support. These operations are carried out by a workforce of over 1000 employees, indicating the firm’s robust operational infrastructure.

Customer-Centric Approach

Central to BharatPe’s success is its deep understanding of customer needs and behaviors: Functional Needs: Merchants need to save time and reduce operational hassle. BharatPe addresses this by providing a single, integrated platform for all UPI transactions. Emotional Needs: The platform touches upon the merchants' need for recognition and belonging. By offering rewards and personalized loans, BharatPe creates an emotionally engaging experience. Social Impact: Enabling merchants to accept digital payments and offering financial services cultivates a sense of affiliation and empowerment among small business owners.

Future Outlook

As BharatPe continues to expand, it shows promise in several future directions: 1. Geographic Expansion: The company is likely to scale beyond 15 cities, tapping into rural and semi-urban market potentials. 2. Enhanced Service Portfolio: New services such as insurance and investment opportunities may soon be on the horizon. 3. Technological Advancements: By continually investing in technology, BharatPe aims to offer more intuitive, user-friendly experiences. In summary, BharatPe’s unique combination of payment solutions and lending services, strategic partnerships, customer focus, and innovative business patterns position it as a transformative force in India’s digital economy. BharatPe reminds us that true innovation lies not just in technology but in understanding and meeting the complex needs of the market, thus setting a stellar example in the fintech sector.


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