Easebuzz, a SaaS payment aggregator platform, has launched its business-to-business invoice management and payments platform in collaboration with NPCI Bharat BillPay Ltd. The platform enables interoperability to the ecosystem, simplifying business payments.
NPCI demonstrated interoperability of the platform during an event at the Global Fintech Festival in Mumbai by processing the cross-platform invoice payment on Easebuzz platform and payment gateway.
Business-to-business transactions vary in complexity due to factors like transaction frequency, digital adoption levels and business turnover. For instance, companies with over 70% digital transactions face challenges in managing data, while smaller businesses struggle with manual processes and limited access to finance.
According to Easebuzz, the B2B platform addresses these issues by offering invoice lifecycle management, flexible payment options and integrated financing solutions. Its rewards, accounting and compliance suites help businesses streamline the payment process and enhance cash-flow management.
The platform is designed to cater to the needs of businesses across industries, such as consumer goods, textiles, pharmaceuticals, automobiles, aviation and construction.
It addresses pain points such as the lack of synchronous invoice acknowledgement, difficulty managing multiple payment modes and the challenges of handling cash and reconciliation. With features like payment gateway, compliance tools, fraud detection and capabilities for e-invoicing, optical character recognition, GST payments and maker checker flows, the platform offers a one-stop interface for B2B businesses.
Under the B2B platform, Easebuzz will onboard merchants, such as manufacturers and distributors, enabling their buyers—including retailers and shopkeepers—to pay for goods and services across various payment modes and channels. Buyers can pay multiple invoices in a single transaction using various modes, including UPI, net banking, cards, wallets and NEFT.
"Launching a B2B payments platform in collaboration with NBBL is a significant step towards digitising and democratising B2B transactions in India. This platform not only simplifies the invoice presentation and settlement process but also enhances efficiency and compliance across the supply chain," Kumar, director and chief technology officer of Easebuzz, said.
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