BharatPe vs Paytm
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Paytm has the larger installed base; BharatPe is leaner, merchant-first and lending-led after Paytm's payments-bank setback.
At a glance
| Metric | BharatPe | Paytm |
|---|---|---|
| Revenue | ₹1,667 Cr (FY25, +17% YoY) | ₹8,437 Cr (FY26, +22% YoY) |
| Profit | -₹88 Cr net loss (down 82%); adj. PBT +₹6 Cr | ₹552 Cr PAT (FY26), vs ₹(663) Cr loss in FY25 |
| Active users | 1.3 Cr+ merchants | 7.2 Cr+ MTUs |
| Employees | 2,000+ | ~20,000 |
| Founded | 2018 | 2010 |
| HQ | New Delhi, India | Noida, India |
LLitmus Framework Score
Overall: BharatPe 88 · Paytm 89
Customer Segment
95
95
Value Proposition
96
92
Marketing Channel
87
88
Engagement
90
90
Income Source
93
85
Asset Validation
85
94
Core Operations
82
85
Strategic Alliance
89
90
Expense Validation
76
78
BharatPe leads 2 modules, Paytm leads 5. Overall edge: Paytm.
Head to head
| Dimension | BharatPe | Paytm |
|---|---|---|
| Focus | Merchant-first, lending-led | Consumer + merchant super-app |
| Merchants | 1.3 Cr+ | Largest offline soundbox/QR base |
| Revenue (FY25) | ₹1,667 Cr (+17%) | ~₹6,900 Cr |
| Monetization | Working-capital lending engine | Payments + financial services + commerce |
| Recent risk | Past governance crisis (2022) | Payments Bank wind-down dented trust |
FAQ
Is BharatPe or Paytm a better business?
Paytm has the larger installed base; BharatPe is leaner, merchant-first and lending-led after Paytm's payments-bank setback. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between BharatPe and Paytm's business model?
BharatPe operates in Fintech (Business Badhao), while Paytm is Fintech (India ka Apna Payments App). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, BharatPe or Paytm?
BharatPe: -₹88 Cr net loss (down 82%); adj. PBT +₹6 Cr. Paytm: ₹552 Cr PAT (FY26), vs ₹(663) Cr loss in FY25.