5 Indian B2B payment platforms to look out for in 2024

By Gloria Mathias

Payments are an integral part of every individual’s life, be it offline or online, and with the digitization of the transaction ecosystem, the magnitude of payments taking place every minute has surged at an unprecedented rate. With UPI and its interoperability, transactions of all kinds can be carried out seamlessly without hindrance.

However, for payments to be a hassle-free phenomenon, technology providers facilitating payments need to be equipped with the latest next-gen technology and data stack to make transactions through all channels and mediums a simplified experience.

According to an IBS Intelligence report, more companies are asking banks for embedded financial experience than ever before. It’s expected that APIs will have the biggest impact on B2B payments over the next two to three years, with both larger (51%) and smaller (39%) companies identifying this as their top choice.

Listed below are 5 emerging FinTech platforms streamlining B2B payments in India:

• AggrePay

AggrePay is a payment gateway solution for businesses and merchants. It offers a SaaS-based payment and collection platform. AggrePay allows users to integrate the API with their website and start accepting payments. AggrePay offers a range of payment channels to simplify making and receiving payments. It helps businesses accept payments from their website, mobile app, or shopping carts.

• Nimbbl

Nimbbl is a payment technology company that provides online checkout solutions for businesses in India. The company is headquartered in Mumbai and offers solutions for payment aggregators and fintech. Nimbbl’s platform provides a one-click checkout experience for customers, unifying all payment methods and technologies into one integration. The company aims to reduce shopping cart abandonment by offering a simplified payment experience.

• Paysharp

Paysharp is a FinTech startup that provides payment solutions for businesses. It offers solutions such as virtual accounts, B2B payment collection and reconciliation, and payment APIs. It also offers an automatic payment reconciliation system for NEFT, IMPS, RTGS, and UPI payments. Paysharp is headquartered in Chennai and works with banks. It offers enterprise-grade UPI solutions and virtual account solutions to B2B and B2C businesses.

• PeLocal

PeLocal is a FinTech platform that provides digital payment solutions. It’s a Chennai-based digital platform that aims to improve the way merchants receive and manage payments for services provided to consumers. Its vision is to empower businesses worldwide with seamless, secure, and customer-centric payment experiences. It strives to be the go-to gateway for all online transactions, enabling merchants to grow their businesses and customers to enjoy a hassle-free payment process.

• Pice

Pice is a mobile banking app that allows users to make payments to their bank accounts. It’s also a business payments and credit app that focuses on GST-registered businesses in India. Pice serves over 50,000 businesses across India. Pice allows business owners to use their credit cards for all their expenses. Business owners can use the app to pay vendors, office rent, and salaries to employees.