Introduction of UPI TPAP
BharatPe has officially entered the consumer payments space by launching its UPI TPAP (Third-Party Application Provider) service, which aims to streamline digital transactions for individuals. Previously, the fintech platform was focused on merchant-to-merchant payment solutions.
Rebranding for a Unified Experience
In a significant move, BharatPe has rebranded its buy-now-pay-later app, “postpe,” to simply “BharatPe.” Now, there are two apps available to users: the newly rebranded BharatPe (formerly postpe) for consumers, and BharatPe for Business, catering to merchants.
Partnership and UPI ID Creation
In partnership with Unity Bank, BharatPe’s TPAP will enable customers to create UPI IDs with the extension “@bpunity.” This allows for seamless transactions, whether between individuals or between consumers and merchants.
Driving Financial Inclusion
BharatPe CEO Nalin Negi highlighted the company’s goal of empowering millions across India to make secure UPI transactions. By entering the consumer payments sector, BharatPe aims to accelerate digital payment adoption and promote financial inclusion nationwide.
App Availability and Future Plans
Currently, BharatPe’s UPI app is available for Android users, with plans to launch on the Apple App Store in the coming months.
A Focus on Security
Kohinoor Biswas, Business Head - Consumer at BharatPe, emphasized that rebranding the consumer app aligns with BharatPe’s mission to offer a unified and secure platform for both consumers and merchants. While not the first to introduce TPAP, BharatPe has reimagined the user experience with a strong emphasis on security to maintain trust in its services.
BharatPe’s expansion into consumer payments marks a significant step in its journey, as it continues to innovate and support the growing digital payments ecosystem in India.