M1xchange integrates invoice discounting on Bharat Connect B2B platform

By Gloria Mathias

M1xchange, India’s TReDS (Trade Receivables Discounting System) platform, has announced a strategic partnership with NPCI Bharat BillPay Ltd. (NBBL) B2B platform.

This partnership will allow businesses to access low-cost invoice financing on TReDS directly from their accounting software. This new financing solution will enhance the efficiency of business payments across India for TReDS-registered companies.

The first transaction for the integration of Bharat Connect and TReDS platforms of M1xchange was demonstrated live at the Global FinTech Festival. This transaction, conducted in a live production environment, demonstrates the solution’s robustness and readiness for widespread adoption.

Under this integration, companies already registered on the TReDS platform can access invoice financing from multiple financiers directly within their accounting software, such as Zoho Books, Easebuzz and Happay, among others.

When a business raises an invoice via its chosen accounting platform, it will now have the option to trigger a request for financing of the invoice(s). This request is instantly transmitted to TReDS (M1xchange), where a competitive financing rate after bidding between multiple financiers is provided back to the accounting software via the API framework managed by NPCI Bharat Connect B2B.

Sundeep Mohindru, Promoter & Director of M1xchange, said, “This collaboration with NPCI Bharat BillPay is a significant step forward in addressing the crucial challenges faced by businesses in managing B2B payments. By integrating invoice financing directly into the Bharat Connect platform, we are making it easier for buyers and sellers to access the working capital as and when they need it without leaving their accounting applications. This seamless experience will empower businesses across India, particularly MSMEs, by enhancing liquidity, reducing payment cycles, and fostering financial inclusion.”

Noopur Chaturvedi, CEO of NPCI Bharat BillPay, shared, “Partnering with M1xchange was a strategic decision for us as we recognise the critical role that timely access to working capital plays in driving business growth and sustainability. By integrating TReDS capabilities into the Bharat Connect for Business, we are addressing a significant gap in the market, enabling businesses, especially MSMEs, to streamline their payment processes without disrupting their existing workflows.”