Top 5 Bharatpe competitors in India 2022

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BharatPe Competitors – BharatPe is a QR Based Payments App that Allows Shop Owners to Accept Payment From 150+ UPI apps. Started in the Year 2018 by Ashneer Grover and Shashvat Nakrani, BharatPe is Currently one of the Biggest Payments apps in India.

India’s start-up ecosystem is opening up and In Recent years Many other new Payments Apps have emerged. In this article, we take a look at some of the Biggest Bharatpe competitors in India that offer similar services.

The Idea Behind Building the BharatPe app was to solve the Problem of Multiple-QR Codes. Before the BharatPe Exists, If a Merchant was Signed up with Paytm, Then that merchant can receive money only from Paytm QR. However, Shashvat Nakrani and Ashneer Grover came up with the idea of one QR code for all Payment Gateways.

When BharatPe Entered the Indian Market in 2018, It Solved one of the Major problems of Merchants and That Helped them initially to attract a lot of merchants. Currently, BharatPe Has a Market Share of 8-10% and They are Processing 5 crore+ UPI transactions Per Month.

With 5 million Plus merchants associated from 400 Different cities in the country, BharatPe is one of the fastest growing fintech companies in India. Below Mentioned are the Top 5 BharatPe Competitors in India who offers similar Products and Services.

Top 5 Bharatpe competitors in India

BharatPe CompetitorsEstablishment yearsHeadquarters
PhonePe2015Bengaluru, Karnataka
Paytm2010Noida
Google Pay2018New Delhi
Amazon Pay2007Bangalore
BHIM UPI2016New Delhi

1. PhonePe

PhonePe is an Indian Fintech Company Based in Bengaluru, Karnataka. Started in the Year 2015, PhonePe is Currently India’s Leading UPI Transactions App with nearly 50% of the Market Share.

PhonePe Share in Indian market

Available in 10+ Indian Languages, PhonePe Offers Services like Sending or Receiving Money through UPI and Bank transfers, Mobile and DTH Recharge, buying Insurance and Mutual Funds, Book Tickets, and More.

PhonePe was Established to Help merchants and Small Shop Owners to Receive Money. Over the Past 5 Years, The Indian Ecosystem for Digital Payments has Transformed dramatically and PhonePe Has Played a Major Role in this Achievement.

With More Than 300 Million Registered users and Association with 25 million small merchants across India, PhonePe is one of the Biggest Bharatpe competitors in India. 

2. Paytm

Established in the Year 2010 By Vijay Shekhar Sharma, Paytm is an Indian Digital Payments app headquarters in New Delhi, India. Paytm Offers services like Money Transfer, Bills Payment, Tickets Booking, retail brokerage products, and online games. Paytm has also collaborated with Various Financial Institutions to offer Micro Loans to Consumers and Merchants.

Paytm was one of the First apps to offer digital payments to consumers as well as Merchants. Back in 2016 when the Government of India Announced the Demonitazion, Within Two Months, Paytm Added nearly 50 Million users.

Essentially one of the Prime reasons For Paytm Success Remains Its Reliable payments infrastructure as well as its Presence in Diverse Sectors which include e-commerce, Retail, Investment, Banking, and Recharge.

3. GooglePay

Google Pay is a Digital Payments App Developed By google For Easy contactless Payments. With Nearly 35 percent market share, Google Pay is the Second most popular Digital payments App in India. Similar to Paytm and PhonePe, GooglePay also offers services like Online Payments and Bills Payments.

As Google serves as a digital wallet-cum Payment App, It Doesn’t Require the User to Maintain a Balance in Its Wallet. The User can Directly Scan or Type UPI ID To Receive Payments.

Unlike Other Digital Payments Apps Like PhonePe, Google pay Doesn’t Charge its users for Recharge or transactions. This has helped them to stand out in a very competitive market. It is one of the Safest and Advanced Payments App Available in India which makes it one of Direct BharatPe Competitors in India.

4. AmazonPay

Amazon Pay is an online payments processing service Launched by Amazon in 2007. Amazon Has Collaborated with Axis Bank to Offer Easy online payment Services To Its Users. Consumers and merchants can Link Their Bank Accounts with the App to Make or Receive Payments Directly to their Bank Accounts Using UPI.

It’s an Easy to use and Secured app to Make Online Payments at 10000+ online shopping sites.  Backed By Its Parent Company Amazon, Amazon Pay Didn’t take much time to create Its space in a Crowded market Dominated by giants like Paytm and PhonePe.

With UPI Transactions Incresing Every Month in India, UPI Apps Like Amazon Pay Have become Extremly popular Among the Users.

The reason why Amazon App is Still Competative is because of Its Seamless Experience and Cashback. A User can get up to 50rs Cashback on Every Recharge and Bill Payment They Make through the Amazon App. All These Amazing features makes Amazon Pay one of the Biggest Competitor of BharatPe in India.

5. BHIM App

Bharat Interface for Money or BHIM is an Indian Payments App developed by the National Payments Corporation of India. Launched in the Year 2016 By the Prime Minister of India Shri Narendra Modi, BHIM Allows Users to Transfer Money from one account to another using the Unified Payments Interface.

Users can scan the QR Code or directly enter the Receiver’s UPI ID to Transfer Fund Seamlessly. The user can also Request For Money by typing the UPI ID of the Sender.

Since the BHIM App is not a Digital Wallet, It Doesn’t Require Users to add money to BHIM. The user can Directly pay the Receiver using the UPI which Makes It Really Convenient. Unlike the Other Apps, BHIM App can also be Used Without the Internet.

The User can Dial *99# from any feature Phone to use the Services of the BHIM App. With Its Easy to use Interface, Authentication & Security, and Government support, BHIM is one of the major Bharatpe competitors in India.

How BharatPe Makes money?

BharatPe is a payments company that enables merchants to accept digital payments from customers. Where other Companies Like PhonePe and Paytm were Charging 1.5 % Fees on Every Transaction, BharatPe Provided free UPI transactions to the merchant which Allowed them to Attract a lot of vendors in their initial Days.

So the Questions Arise How Does Bharat Make money? BharatPe Started offering Micro Loans to Merchants with very less paperwork. This helped Small businesses to rise Loans without CIBIL Score. The Income from Micro Loan Interest Worked as the Main Source of Income For BharatPe.

BharatPe Competitors FAQ

What are some of the most popular BharatPe Competitors in India?

PhonePe, Paytm and Google Pay are Some of the Biggest BharatPe Competitors in India

Is the bharatpe app safe?

Yes, BharatPe App is 100% Safe to Use.

What is the valuation of bharatpe?

The Current Valuation of BharatPe is $2.85 Billion.

What is Bharat pe customer care number?

088825 55444

Conclusion

The Digital Payments volume in India is Growing at an Annual Rate of 50%. As more and more people gain access to Smartphones that enable them to make digital payments, By the year 2025, the UPI system is Expected to Register annual growth of 50%.

BharatPe offers all the essential features Required by merchants to receive Payment to ensure hassle-free transactions. However, competition among digital payment apps is increasing and It will be Interesting to See How Bharatpe Competes with the likes of Paytm, Google Pay, and PhonePe.

We hope this article helped you to Know more about Bharatpe competitors in India. If You have any other Queries or Suggestions, Please Share Them With Us in the Comment Section Below.

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