NPCI Bharat BillPay forays into B2B category to offer payments & collections
By Gloria Mathias
NPCI Bharat BillPay (NBBL), a wholly owned subsidiary of NPCI, has announced the launch of its services under the B2B category to reshape the landscape of business payments and collections.
The category is going live for the first time on the MyJio app for the Biller Arzooo, with Axis Bank as the Biller Operating Unit (BOU).
Under the B2B category, Bharat BillPay has proposed to onboard billers and enable their buyers to pay for the purchased goods and services across Bharat BillPay-enabled channels and modes.
The buyers will have the flexibility to pay one or more invoices in a single transaction. The platform will offer multiple payment modes like UPI, net banking, cards, wallets, IMPS, cash, etc. along with multiple payment channels like Mobile apps, websites, agents, branches, etc. To cater to the cash flow needs of the B2B segment, Bharat BillPay will also allow partial payments in this category.
Noopur Chaturvedi, CEO, of NPCI Bharat BillPay said, “Business to Business (B2B) payment segment in India carries huge potential from a digital standpoint, and we are delighted to onboard Arzooo as the first biller under this category with support from Jio Payments Bank. By onboarding onto our platform, businesses will effectively make their entire bill payment process seamless and secure. At Bharat BillPay, we are committed to our efforts in continuing to augment our already extensive line of products and services for the benefit of all stakeholders.”
Rishi Raj Rathore, co-founder of Arzooo said, “Arzooo’s focus has always been to empower our retailers with new-age digital solutions that can give them a competitive edge with the eComm giants. In the endeavour to do so, we are delighted to announce our strategic collaboration with Bharat BillPay, marking us the first B2B eCommerce platform to address the prevailing challenges in offline retailer payments. This partnership signifies a significant milestone in simplifying payments for Arzooo’s 50,000+ retailer network, contributing to India’s digital-first approach to economic growth.”
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