Razorpay-NPCI launch Banking Connect netbanking rails as BharatPe rebrands NBFC into BharatPe Capital
Razorpay partners NPCI Bharat BillPay to roll out Banking Connect, a netbanking solution for businesses and consumers. Separately, BharatPe rebrands NBFC Trillionloans as BharatPe Capital, scaling merchant and consumer credit atop a Rs 1,750 crore loan book and Rs 3,500 crore annual disbursements at 30% YoY growth.
What happened
Startup roundup with retail-relevant items: Razorpay partners NPCI Bharat BillPay to launch Banking Connect netbanking solution for businesses/consumers, and
Key facts
- Rs 1,750 crore loan book
- Rs 3,500 crore annual disbursements
- 30% YoY growth
- Rs 100 Cr Series A
Why this matters
Two parallel moves—Razorpay-NPCI on payment rails and BharatPe's NBFC rebrand—reshape India's merchant/consumer credit infrastructure, flagging potential partnership or acquisition targets in fintech distribution.
What to watch
- RBI/NBFC regulatory commentary on merchant lending and co-lending exposure
- BharatPe Capital disbursement and NPA disclosures next 2 quarters
- Banking Connect bank onboarding count and transaction volume
- Razorpay funding or IPO signals tied to lending infrastructure narrative
- MDR/interchange pricing shifts on netbanking vs UPI
- Razorpay expands Banking Connect to more partner banks and pitches lower MDR vs card rails for high-ticket B2B flows
- BharatPe Capital ramps consumer credit alongside merchant loans, seeking co-lending tie-ups to fund the book
- Competitors (PhonePe, Paytm, Pine Labs) bundle credit onto payment acceptance to defend merchant share
- NPCI positions Banking Connect as complementary to UPI for large-value transactions