Bettamint, a workforce management solutions provider, on Wednesday said it has launched payments solution 'Bettapay' to better manage financial transactions in the construction sector.
Bettapay can synchronize payments with specific project parameters such as debit notes, worker attendance for wage payments, and even rewards and incentives for completing time-sensitive tasks, Bettamint said in a statement.
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The payment solution would help developers and contractors to significantly reduce the administrative burden associated with authenticating, billing and recording field payments, the company said.
The launch of Bettapay aligns with the government's recent directive urging employers to ensure that all wage payments to workers are made digitally, it said.
The platform not only simplifies compliance with this directive but also benefits lending institutions and regulatory bodies like RERA by providing a centralized data repository for enhanced project oversight and transparency, it added.
"By integrating precise payment triggers with our platform, we're ensuring that construction companies only pay for what is due. Bettapay brings a new level of precision and accountability to field operations. It also makes projects more attractive to lenders," Bettamint CEO Kezya D Braganza said.
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