haratPe, India’s largest merchant payments company, today announced that it has become the 3rd largest player in the Merchant UPI payment acceptance space. The company has recorded INR 3,334 crores (US$ 479 million) in transaction value for the month of November, displacing Google Pay from the No. 3 position. The company shared that it processed 6.15 crores transactions in November 2020.
BharatPe has been outgrowing the market and has doubled its market share in the UPI P2M merchant payment acceptance category since April 2020. In November 2020, BharatPe has reached all-time high 5% market share by transaction value and 7% market share by transaction volume. The volume of transactions processed by BharatPe standalone last month is greater than the combined UPI P2M transaction volume of JIO, Zomato, Swiggy, CRED, FlipKart, CashFree, IRCTC and MPL.
BharatPe has announced its aggressive expansion plans across Tier-1, 2 and 3 cities in the country. The company is currently present in 50+ cities and plans to scale up its presence to 65 cities by Mar 2021.