Zero MDR driving digital payments boom: BharatPe 's Sandeep Indurkar

Mumbai, Oct 8 (IANS) Sandeep Indurkar, CEO – Payments at BharatPe, on Wednesday highlighted the transformative impact of government initiatives on India’s digital economy.

Speaking to IANS on the sidelines of Global Fintech Fest 2025, Indurkar said that the government’s zero MDR (Merchant Discount Rate) policy has been a game-changer, especially for offline markets in Tier 2 and Tier 3 cities.

“Merchants have directly shifted from cash to QR payments because of zero charges. This initiative has significantly boosted digital transactions,” he told IANS.

Indurkar emphasised that payments today are not just about transferring money, but also about transferring data and customer relationships.

“When customers choose UPI on a platform, they are often redirected to competitor apps, breaking the seamless experience. Our focus is to ensure that payments happen within the merchant’s own app, retaining the customer relationship,” he explained.

He added that BharatPe provides a specialist team along with an AI co-pilot to help merchants integrate digital payments faster.

This team assists in setting up product and technical infrastructure, while also navigating compliance with banks and NPCI.

Indurkar cited BharatPe’s own growth as an example of how fintech can thrive in India.

“In just six years, BharatPe has reached a valuation of over $2 billion. Events like the Global Fintech Festival provide a stage to showcase products, attract investors, and grow the customer base,” he noted.

Indurkar also pointed out how easier payments are helping small businesses and homepreneurs.

“Today, boutiques on Instagram or individuals selling homemade pickles can receive easy and convenient digital payments. This builds trust and strengthens distribution, ultimately boosting the economy,” he said.

Reflecting on government initiatives, Indurkar praised the efforts to expand digital adoption.

“With ONDC, UPI expansion, and zero MDR, the government has made it easier for businesses to move online. It’s encouraging to see Tier 2 and Tier 3 markets leapfrog directly to digital payments,” he told IANS.

On the broader economic growth under Prime Minister Narendra Modi, Indurkar observed, “Over the last 25 years, India has seen significant progress. The digital payment ecosystem is one of the many areas where this growth is visible, creating opportunities for businesses large and small.”

--IANS

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