Mumbai, Oct 8 —
Sandeep Indurkar, chief executive of BharatPe’s payments arm, said the Indian government’s recent push to cut the merchant discount rate (MDR) to zero is reshaping the country’s digital economy, especially for small retailers in Tier 2 and Tier 3 cities.
Speaking on the sidelines of the Global Fintech Fest 2025, Indurkar explained that eliminating MDR charges has pushed many merchants away from cash and straight into QR‑code payments. “Merchants are switching to digital payment methods because there are no extra fees,” he said.
The CEO stressed that modern payments are more than just moving money. “When a customer uses UPI on another app, the merchant loses that link to the buyer,” Indurkar pointed out. “We help merchants keep payments inside their own app, so they keep that customer relationship.”
BharatPe supplies its merchants with a specialist support team and an AI co‑pilot. These experts set up product and technical infrastructure, guide merchants through bank and NPCI regulations, and speed up the adoption of digital payment tools.
Indurkar cited the company’s own growth as proof that fintech can thrive in India. “BharatPe is now valued at over $2 billion in just six years,” he noted. Festivals like the Global Fintech Fest give firms a platform to showcase new products, attract investors, and grow their customer base.
He said easy digital payments also help home‑grown businesses. “Boutiques selling on Instagram or homemade pickles now can accept credit cards and UPI with no hassle,” he explained. “That builds trust and expands distribution, boosting the economy.”
Reflecting on broader government initiatives, Indurkar praised the ONDC network, UPI expansion, and the zero MDR policy. “These moves let businesses, especially in smaller cities, leap into digital transactions,” he said.
Finally, he acknowledged India’s broader economic progress. “Over the last two and a half decades, we’ve seen huge growth. A rising digital payments ecosystem shows that there are plenty of opportunities for both big enterprises and small merchants,” he added.
Source: ianslive
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