Mumbai, Oct. 8 – Indian payment pioneer Sandeep Indurkar, the CEO of BharatPe’s payments arm, told reporters at the Global Fintech Fest 2025 that the government’s zero Merchant Discount Rate (MDR) policy is reshaping India’s digital economy, especially in smaller towns.
“Because merchants no longer pay charges for payment processing, many have moved straight from cash to QR‑code payments,” he said. “This shift has boosted digital transactions across Tier 2 and Tier 3 cities.”
Indurkar highlighted that today’s payments are more than money transfer; they carry data and customer relationships. “If a customer opens a UPI link and gets redirected to a separate app, the merchant loses that connection,” he explained. “We build the payment flow inside the merchant’s own app so the customer stays with the business.”
To help merchants go digital quickly, BharatPe offers a dedicated team plus an AI co‑pilot. “The team sets up the product and tech framework and also guides merchants through bank and NPCI compliance,” he added.
He used BharatPe’s growth to illustrate fintech’s potential. “In just six years, we valued over $2 billion. Events like the Global Fintech Festival give fintechs a platform to showcase products, attract investors and expand their customer base,” he said.
Indurkar cited small sellers and home‑preneurs as a key benefit. “Boutiques on Instagram or homemade pickle sellers can now accept digital payments easily. That builds trust, improves distribution and lifts the broader economy,” he noted.
He applauded government moves that drive digital adoption. “With ONDC, UPI expansion and zero MDR, it’s easier for businesses to move online. It’s exciting to see Tier 2 and Tier 3 markets leapfrog directly to digital payments,” he said.
On the broader economic progress under Prime Minister Narendra Modi, Indurkar said, “India has made significant strides over the last 25 years. A thriving digital payment ecosystem is one clear sign of that growth, opening doors for businesses of all sizes.”
Source: ianslive
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