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Zaggle launches Zoyer to modernise business payments for SMEs

By Leandra Monteiro

September 15, 2022

  • B2B Payments
  • Card Payments
  • Founders Card

ZaggleZaggle, one of India’s leading B2B2C SaaS FinTechs providing integrated card products bundled with SaaS-based business spend offerings, announced the launch of Zoyer to simplify and automate business-to-business payments for Enterprises and SMEs.

Zoyer unites accounts payable and credit card payments onto a single platform to enable enterprises streamline business to business payables for effectively managing operating cash flows and maximizing business performance.

The latest launch is another step in actualising Zaggle’s vision of becoming a global digital bank that addresses the complete financial management, payments, and credit flow needs of enterprises and SMEs. Currently, Zaggle’s multi-product suite is deployed by some of the largest corporates and SMEs in India to manage employee expenses and channel incentives tightly integrated with prepaid cards from leading banks in the country.

The platform supports multi-payment rails real-time account to account and card rails enabling businesses to make payments from within the same platform. Zoyer embeds Zaggle branded card products such as Founders Card and corporate credit cards directly into accounts payable workflows for seamless payments. The integrated credit card offering enables corporates to manage a range of transactions including vendor payments, utility and tax (GST) payments securely and efficiently. Corporates benefit from optimised processing costs via earned rebates and cashbacks with the added benefit of access to immediate credit to improve working capital and better manage liquidity positions.

Speaking on the launch Raj N, Founder, Zaggle stated, “We are excited to launch Zoyer to drive the next stage of development in our digital banking journey and deliver real value to our customers. B2B enablement to track, monitor, issue and manage credit and access to credit for the enterprise and SME segments represent a trillion-dollar market opportunity and is ripe for disruption. At Zaggle, we are continually striving to deliver best-in-class digital solutions to become the preferred one-stop B2B payments and credit provider for enterprise and SMEs. Zoyer reinforces our ongoing commitment to empower businesses with solutions engineered to optimise core financial management processes and strengthen organizational resilience.”

Avinash Godkhindi, CEO, Zaggle said, “Enterprises and SMEs have a significant need to digitalise B2B payment processes so they can rapidly adapt to changing market dynamics. But the segment remains vastly underserved by incumbent solutions and limited self-manageable credit cards or corporate cards. We are proud to bring a functionally rich, business spend management platform with credit/corporate cards capabilities that makes capital-efficient growth a reality. Beyond digitalising core invoicing and payment flows, with Zoyer, we are laying a strong growth foundation by enabling businesses to manage liquidity through better allocation of working capital and providing an immediate credit line tied to credit cards.”

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