Easebuzz launches B2B Payments Platform in collaboration with NPCI Bharat BillPay
- Platform enables interoperability and helps in automating financial operations
- The collaboration aims to simplify and democratize B2B Payments in India
Easebuzz, a verticalised SaaS payments platform, has launched its Business-to-Business (B2B) invoice management and payments platform in collaboration with NPCI Bharat BillPay Ltd. (NBBL), at Global Fintech Festival 2024, in the presence of hounourable RBI Governor Shri. Shaktikanta Das, in Mumbai. This platform enables interoperability to the ecosystem, simplifying business payments. NPCI demonstrated interoperability of the platform during the mainstage launch event at Global Fintech Festival, by successfully processing the cross-platform invoice payment on Easebuzz platform and payment gateway.
Live demonstration of BBPS B2B invoice payment transaction by NPCI in the presence of honourable RBI Governor Shri Shaktikanta Das
B2B 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. Easebuzz B2B platform addresses these issues by offering seamless invoice lifecycle management, flexible payment options, and integrated financing solutions. Additionally, the platform’s Rewards, Accounting, and Compliance suites help businesses across various sectors streamline their payment processes and enhance cash flow management.
Easebuzz B2B platform is designed to cater to the unique needs of businesses across industries, including FMCG, textiles, pharmaceuticals, automobiles, aviation, construction, and more. It addresses critical 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, accounting suite, compliance tools, fraud detection, and capabilities for E-Invoicing, Optical Character Recognition (OCR), GST Payments, and Maker Checker flows, Easebuzz offers one-stop solution for B2B businesses to create, pay, and finance invoices from a single platform.
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. Businesses & Platforms already onboarded on this Easebuzz B2B platform includes Lenskart, 1Vendor Platform, Symbiosis University, SRV Media, Pice, etc. Buyers can pay multiple invoices in a single transaction using a wide array of payment modes, including UPI, net banking, cards, wallets, and NEFT, all facilitated by Easebuzz’s robust payment infrastructure.
Amit Kumar, Director & CTO of Easebuzz, commented, “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. With the integration of auto-reminders, easy financing options, and comprehensive business workflows, we ensure that businesses of all sizes thrive in a secure, cost-effective, and streamlined payment ecosystem, unlocking new opportunities for growth and innovation.”
Reference link:
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About Easebuzz: Founded in 2014, Easebuzz is a full-stack payment aggregator platform serving more than 1,50,000 businesses of all sizes in India. With a mission to become a one-stop Financial Operating System for businesses, Easebuzz helps companies manage end-to-end financial operations around digital payment collections, payment disbursals, connected banking, split payments, automated reconciliation, vendor payments, sub-merchant management, refund management etc. through plug-and-play API solutions. Besides serving SMEs and startups in India, the company also caters to mid and large corporate business from various sectors of the economy including education, retail, NBFCs, insurance, e-commerce, D2C, travel & tourism, government etc.
About NPCI Bharat BillPay Ltd: NPCI Bharat BillPay Ltd. is a wholly-owned subsidiary of National Payments Corporation of India. Came into effect from December 2020, NBBL is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections. The platform offers 21,000+ billers across multiple bank and non-bank channels.
