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PayMate and NBBL launch BBPS-B2B platform to revolutionize business payments in India
The Business Guardian
|September 05, 2024
Paymate,ayMate, India's leading digital B2B payments company, has announced its partnership with NPCI Bharat BillPay Ltd. (NBBL) to launch the innovative PayMate BBPS-B2B platform.
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The BBPS-B2B platform seeks to enable large-scale standardization and digitization of commercial processes related to invoicing, payments, and collections across the nation while fostering an interoperable ecosystem between buyers and suppliers. The partnership aims to cater to 634 lakh MSMEs(1) and 16.6 lakh(2) corporates across the country.
The NBBL BBPS-B2B platform offers a comprehensive solution across the challenges of the invoice lifecycle, from customer onboarding, invoice generation, financing, collections & payments, to reconciliation & settlement. The platform is designed to empower corporate, mid-market, and SME clients to conduct business transactions with unique features such as business background checks, realtime invoice status visibility between buyer and supplier, access to multiple financers, and streamlined reconciliation processes.
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