New Delhi, Aug 19
Bharat Connect processed nearly 8 million transactions daily, facilitating 715 million transactions worth Rs 3.14 trillion in FY25 Q3 alone -- a 217 per cent year-on-year growth in value over Q3 FY24, a report said on Tuesday.
Designed with inclusion at its core, the platform reaches into rural and underserved regions, erasing gaps where physical collection points are limited, Grant Thornton Bharat said in a report in collaboration with NPCI Bharat BillPay Limited (NBBL).
For millions, it has become a lifeline by bringing the ease of digital bill payments to villages and small towns, where standing in long queues or travelling miles for payments was once routine.
The economic ripple effects have been profound.
In FY24 alone, Bharat Connect contributed 0.38 per cent to India’s GDP, driven by increased efficiency, time savings, and reduced reliance on cash payment, the report stated.
By streamlining payments, it has freed up resources — both human and financial — that are now being channelled into more productive avenues.