BharatPe started amidst PayTm, PhonePe, GPay. The well-capitalized giants owned payments. Merchants had no interest in adding yet another app. BP looked dead in the water

But the underdog now does $5Bn of txns, exploding from day 1

BP’s goal was to make life easy for the merchant. Its competitors ran their own closed ecosystems. Merchants had to run 5+ apps, multiple QRs. By thinking merchant first, BP flipped everything

It created a single QR code to rule them all

Merchants flocked to BP’s free offering. The “interoperable” QR was simple, yet powerful. By doing what comps were unwilling, it hooked merchants. It became viral, reaching 1.5M SMBs in 8 months

BP used feet on street to onboard offline merchants. It leveraged celebs to build trust. It scaled further

But BP had an even bigger game to play

Merchants trusted BP for its zero-fee, decluttering app. Sitting on the flow of payments, it expanding into finserv. Enabled by the pandemic, it grew 4x to 5MM merchants

Importantly, its lending biz exploded 10x. Leveraging its trust, BP is filling a $1Tn finance demand for Bharat’s MSMEs