Global technology company Zoho introduced the end-to-end payment solution, Zoho Payments, which will let enterprises collect customer payments through UPI in a secured manner. Zoho Payments was developed by its fully-owned subsidiary Zoho Payment Technologies Private Ltd with the objective of making business operations hassle-free in terms of facilitation and collection.
The Chennai-based company also unveiled B2B payment capabilities using Bharat Bill Payment System, operated by NPCI Bharat BillPay Limited (NBBL). This would, therefore, upon registration with NBBL as a BBPOU, enable Zoho Payment to onboard buyers and sellers on the BBPS network for seamless processing of B2B transactions. According to NBBL's BBPS system, businesses enjoy standardized invoice presentation, multiple options for payment methods, immediate confirmations at the time of payment, financing options for invoices, and an integrated platform for handling and reconciliation of invoices.
"This marks a major advancement in the fintech domain. As a result, we can now offer a more holistic financial management solution for businesses," Sivaramakrishnan Iswaran, Global Head of Finance and Operations BU at Zoho, said.
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