The PayMate BBPS-B2B platform aims to standardise and digitise nationwide commercial processes related to invoicing, payment initiation, collection, reconciliation and settlement.
India’s digital B2B payments company PayMate has partnered with NPCI Bharat BillPay Ltd. (NBBL) on its new business platform that facilitates interoperability between different B2B payments and collections systems.
The new tool equally suits corporate, mid-market, SME and MSME clients. It combines solutions ranging from accounts payable, accounts receivable, and invoice discounting, to cross-border payments, tax and bill payments, rental collections, and embedded finance.
Some of the most advantageous features of the new PayMate platform are business background checks, real-time invoice status visibility between buyer and supplier, access to multiple financiers, and streamlined reconciliation processes. The option to connect with multiple lenders enables PayMate customers to seamlessly conduct offer comparison, and get the best rates and best financing services required to drive business growth.
Through the partnership with NBBL as an operating unit from both the supplier and buyer end, PayMate gets the opportunity to deliver additional value to its customers while also expanding its product offerings.
We are delighted to collaborate with NBBL on this groundbreaking national business payments initiative, set to revolutionize B2B payments and collections. The PayMate BBPS-B2B platform, developed in partnership with NBBL, is designed to meet the diverse needs of India’s business payments market. This aligns perfectly with our mission to empower corporates and MSMEs by streamlining B2B transactions, driving growth, and paving the way for a more efficient future for Indian businesses.”
Ajay Adiseshann, Founder, MD, and CEO of PayMate
PayMate provides a comprehensive digital workflow tied to B2B payments for enterprises and SMEs across supply chains. The company has a presence in South Asia (India) and UAE and is actively expanding across CEMEA and APAC. It is one of the fastest-growing providers of online, card-based payment processing services in India.
We have recently reported that the Central Bank of India proposed using a broader set of alternatives as additional authentication factors for all digital transactions, such as fingerprints and passwords.
