PayMate, a digital B2B payments company headquartered in Mumbai, has recently announced its collaboration with NPCI Bharat BillPay Ltd. (NBBL) to introduce the innovative PayMate BBPS-B2B platform.
The BBPS-B2B platform aims to facilitate the standardization and digitization of commercial processes related to invoicing, payments, and collections on a large scale throughout the nation, while also promoting an interoperable ecosystem between consumers and suppliers.
The partnership’s objective is to provide services to 16.6 lakh corporates and 634 lakh MSMEs throughout the nation.
The NBBL BBPS-B2B platform provides a comprehensive solution to the challenges of the invoice lifecycle, including customer onboarding, invoice issuance, financing, collections and payments, and reconciliation and settlement.
The platform is intended to facilitate business transactions for corporate, mid-market, and small and medium-sized enterprises (SMEs).
Business background checks, real-time visibility of invoice status between buyer and supplier, access to multiple financiers, and streamlined reconciliation processes are among its distinctive features.
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PayMate provides businesses with a business payment platform that offers a variety of solutions, including accounts payable, accounts receivable, invoice discounting, cross-border payments, tax, bill payments, rental collections, and embedded financing.
The organization assists businesses of all sizes in enhancing financial efficiency, making punctual supplier payments, and optimizing working capital across a variety of industries.
PayMate will expand its product offerings and provide its customers with additional value as a result of its partnership with NBBL.
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