Mumbai: Fintech company BharatPe has announced its foray into consumer payments with the launch of its UPI TPAP (Third Party Application Provider) offering for millions of customers of Bharat. BharatPe also shared that it has rebranded postpe app to BharatPe.
With this launch, BharatPe will be able to cater to millions of customers who use digital payments. Customers can create their UPI ID on the BharatPe app and make payments to individuals as well as merchants, and also pay a host of bills, directly through the BharatPe app. Customers can create their own handle with the extension @bpunity. The UPI TPAP is available on Play Store for all the Android users. The company has partnered with Unity Bank to enable TPAP.
BharatPe app caters to payment use cases. The 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 authorisation, raise collection request, and utility bill payments across a range of billers in prepaid, postpaid, gas, DTH, electricity bills, and insurance payments category. Also, customers can buy gift vouchers at discounted prices from renowned offline and online brands across a range of categories including electronic, entertainment, fashion, food, travel, wellness etc. by using the BharatPe app. The new BharatPe app also offers the UPI Lite feature, that enables customers to preload online wallet and make transactions of upto Rs. 500 across P2P and P2M transactions, without the need of using a UPI PIN.
Nalin Negi, CEO, BharatPe said, “We are committed to building BharatPe as a preferred financial platform for customers and merchants across Bharat. Over the years, we have been able to empower over 1.3 Crores merchants with our innovative products across payments and credit. With our UPI TPAP, we aim to enable millions across Bharat to make seamless and secure UPI transactions, for their individual as well as business needs. The foray into the consumer payments category will help us to further propel adoption of digital payments and drive financial inclusion across the country.
“UPI has become ubiquitous to payments for millions and has witnessed exponential growth over the last few years. In our view, the next stage of growth for UPI will come from Bharat and hence, we have designed this app, keeping in mind the needs of the customers of Bharat. In the first phase of the launch, we have enabled the most widely used use cases on the BharatPe app. We are committed to delivering a secure and superlative experience to our customers and are optimistic that this app will resonate well with the customers across Bharat. This is the beginning of an exciting journey. In the coming months, we will be launching a portfolio of new features on our BharatPe app. We will also be launching the BharatPe app on the App store.”
Kohinoor Biswas, business head consumer, BharatPe said, “BharatPe has been one of the most prominent players in the merchant space, enabling them to accept UPI payments through BharatPe QR codes, soundboxes, and POS devices. Observing significant interest in the consumer payments product space, we wanted to introduce a UPI payment offering for consumers. This also enables to complete the cycle and offer both consumer and merchant payments. Rebranding our consumer app as BharatPe aligns with our goal of providing a unified brand and platform for both consumers and merchants. While we are not the first player in the country to launch TPAP, we have reimagined the app experience with a renewed emphasis on security, ensuring that trust remains at the core of our offerings.”
