PayMate and Bharat Connect Launch BBPS-B2B Platform to Transform Invoicing and Payments

New Delhi, Sep 18 (KNN) In a major development for India’s commercial sector, PayMate has joined forces with NPCI Bharat BillPay Ltd. (NBBL), now rebranded as Bharat Connect, to unveil the PayMate BBPS-B2B platform.

This initiative is set to revolutionize the way invoicing, payments, and collections are handled across the country.

The PayMate BBPS-B2B platform targets a vast audience, encompassing 634 lakh micro, small, and medium enterprises (MSMEs) and 16.6 lakh corporates.

Its primary objective is to standardise and digitize commercial processes, addressing long-standing challenges associated with the invoice lifecycle.

This new platform is designed to overcome various hurdles in the invoicing process by offering several advanced features. Key among these are real-time invoice status updates, which provide businesses with immediate visibility into their transactions.

Additionally, the platform includes financing options to support businesses in managing their cash flow more effectively and streamlines reconciliation processes, thereby reducing administrative overhead.

Ajay Adiseshann, Founder, Managing Director, and CEO of PayMate, highlighted the transformative potential of the PayMate-NBBL B2B platform.

He stated, “The PayMate-NBBL B2B platform is designed to enhance interoperability between buyers and suppliers, ensuring seamless integration between diverse systems while providing access to business background checks and multiple financing options.”

Adiseshann further elaborated, “PayMate's integration with NBBL fosters efficiency by enabling smooth transactions across different systems. This integration enhances the entire digital ecosystem, fr0m ordering to invoicing and reconciliation.

With a verified network of businesses and real-time invoice tracking, the platform is set to significantly improve operational efficiency and growth opportunities for businesses across India.”