New Delhi, May 29 (KNN) Tide India, a leading business financial platform, has introduced a new Bill Payments feature in collaboration with Setu, powered by the National Payments Corporation of India's (NPCI) Bharat BillPay system.

This innovative offering aims to provide a hassle-free, interoperable, and accessible bill payment service to Micro, Small, and Medium Enterprises (MSMEs) across the country.

Small business owners often face challenges in separating personal and business expenses, leading to accounting complexities and reduced visibility into their expenditures. 

According to the platform, Tide's Bill Payments feature addresses this common pain point, enabling MSMEs to seamlessly pay a wide range of utilities, including electricity, gas, postpaid mobile, broadband bills, insurance premiums, loan installments, and municipal taxes directly from the Tide mobile app.

The Bill Payments feature offers quicker, more convenient, and secure payment options to small business owners. Users can choose from several payment methods facilitated by the Bharat Bill Payment System. 

Additionally, the feature employs robust security measures, such as encryption and authentication, to ensure the safety of transactions.

Tide members (customers) will benefit from the ability to track and trace their business-related payments, as well as access detailed transaction histories, enabling them to identify and categorise outgoing expenses more effectively. This comprehensive view of cash flow will provide valuable insights into the short- and long-term financial health of their businesses.

Furthermore, the Bill Payments feature ensures transparency by providing immediate confirmation of payments, and users can access it 24/7, enabling them to make payments anytime, from anywhere.

Kumar Shekhar, Deputy Country Manager of Tide in India, emphasised the importance of supporting India's dynamic SMEs, which fuel the country's economic growth. 

He stated, "Tide stands at the forefront of innovation to help them save time and money. Our Bill Payments feature alleviates the pain point that bill settlements pose for small business owners. With a focus on agility, convenience, ease of use, security, and accessibility, we are committed to helping simplify the bill payments experience for India's MSMEs."

(KNN Bureau)