Top B2B Payment Startups in India

B2B Payment Startups stands for business to business, and it refers to any transaction involving the exchange of any goods or services between two commercial enterprises. Payment is such a transaction that could take the shape of cash or something else entirely. This indicates that it may take the form of a routine transaction such as paying for goods or services with money, or it may take the shape of a barter exchange.

In a barter transaction, two businesses can swap goods or services without exchanging cash. The payment technique used in financial transactions is very different from how clients pay businesses. The manner of payment for business-to-consumers and business-to-business transactions differs significantly. Business-to-business transactions typically involve large orders, whereas B2C transactions which are conducted for direct consumption- tend to involve smaller purchases. Discounts and offers are also offered in B2C sales, although they are typically absent in B2B transactions. Consequently, when an organization pays another business, the method of payment also needs to be adjusted in some specific ways.

Popular B2B Payment Startups in India

Here is the list of Top B2B Payment Startups in India

1. Air Pay

Another well-known B2B payment firm in India that makes it simple for retailers and e-commerce businesses to accept contactless payments is this one. Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande established this startup in 2012.

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The business’s main office is in Mumbai. The payment platform offers features like open banking, Financial Services, contactless payments, digital payments and financial inclusion.

2. BharatPe

A single BharatPe QR code may be used by small to midsize business owners to accept payments across all UPI applications, according to BharatPe, a B2B fintech provider. The startup also provides loans to business owners.

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Ashneer Grover, Shashvat Nakhrani, and Bhavik Koladiya launched it in 2018 and its main office is in New Delhi. Recently, it has collaborated with NBFCs on a project named “12%Club”. Through this program, consumers will have the opportunity to put money into BharatPe and earn a return of up to 12% without being subject to any lock-in periods. Additionally, individuals are able to borrow money at a 12% interest rate.

3. Udaan

One of the largest business-to-business platforms in India is called Udaan. Vaibhav Gupta, Sujit Kumar, and Amod Malviya launched it in 2016.

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Bangalore serves as the startup’s corporate headquarters. The platform enables farmers, small businesses, and manufacturers to provide shoppers and retailers with their goods in a transparent and safe manner. With safe payments and efficient logistics, it facilitates the purchasing and selling process.

4. Benow

It is yet another well-known B2B payment startup in India. It was launched in 2016 by Sudhakar Ram and Soorraj VS.

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An application called Benow focuses on payments and the retail Industry. The startup was established to advance digital payments and support the growth of SMEs, NGOs, and brands. Users can also obtain credit points, EMI, bundle products, and much more. The shop now and pay later approach is the main focus of the platform.

5. Nova Play

It is a gaming platform that Akshat Rathi founded in Gurgaon in 2016. At first, it was used to pay for video games. It has, however, recently added B2B payment processing services.

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6. Bulk MRO

Bulk MRO is another well-known B2B payment startup in India. It is a worldwide logistics and financial platform that Gaurang and Devansh Shah founded in Mumbai in 2015.

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When it comes to providing manufacturing goods and emergency supplies, Bulk MRO is a reliable name. It is a B2B platform that aids businesses and government healthcare networks in their operations not just in India but all around the world.

7. Enkash

Enkash platform, a business name monitors its cash flow, and invoices and most importantly tracks payments from customers or suppliers.

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It provides easy connections between businesses, corporations, and credit providers. Hemant Vishnoi established the business in 2016. The SBM Enkash RuPay business card, the most comprehensive business credit card ever, was released in 2020 thanks to a collaboration between SBM Bank and Enkash. It is a platform for managing B2B payments and providing financial support.

8. Ginvoicing

The Startup’s name is clearly drawn from the phrase “G-Invoicing” in accounting. Tarun Jangra started it in 2017, and has its headquarters in Ludhiyana.

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It is a system that enables you to conveniently and more successfully manage your business. The platform aims to eliminate all your GST-related problems. It assists with obtaining payments via the Internet, accounting, managing stocks, marketing, and buying information, among other things.

Conclusion

The process of making business-to-business payments used to be complicated, but as technology has developed, a number of startups have come out that have simplified and secured the process. The organizations mentioned above are some of the most well-known B2B payment startups in India that are changing the way transactions were once conducted.

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