By Gloria Mathias
September 02, 2024
- B2B
- B2B Bharat BillPay System
- B2B Billing
Mswipe, a FinTech company, has announced its participation as an operating unit for the Bharat Bill Payment System (BBPS) of the NPCI Bharat BillPay Limited (NBBL) platform.
BBPS acts as a single connection point between customers and billers, providing an efficient and reliable bill presentation and payment system and grievance management system. To date, BBPS permits utility payments by consumers.
This new platform enables businesses to present invoices and collect payments directly from other businesses via their ERPs or Mswipe’s BBPS platform.
The launch benefits businesses in the following ways:
- Simple and effortless onboarding process.
- Use the platform to generate and present invoices directly from ERPs.
- Buyers and sellers can track invoices in real-time, ensuring transparency and accuracy in financial transactions.
- Automated reminders to help ensure timely payments, reducing the risk of late fees and improving overall cash flow management.
- Buyers can make payments via cards, UPI, or net banking based on their preference.
- Merchants gain a clear view of their cash flow, enabling better financial planning and decision-making.
“We are thrilled to bring the Bharat BillPay system, a NBBL product, to merchants across the country. This integration is a significant step towards simplifying financial operations for small and medium businesses, giving them the tools they need to manage their receivables and payables more effectively. This development underscores Mswipe’s commitment to providing cutting-edge financial solutions tailored to the needs of Indian merchants,” said Ketan Patel, Co-founder and CEO of Mswipe.
