The National Payments Corporation of India (NPCI) on October 19, 2023, launched the Bharat Bill Pay Forays into the B2B Category: Offers Payments and Collections for Businesses.
It states that it will provide businesses with value-added services like flexible invoice presentation, complaint management, MIS, etc. The category is going live for the first time on the My Jio app for the Biller Arzooo with Axis Bank as the Biller Operating Unit (BOU).
Under the B2B category, Bharat Bill Pay has proposed to on-board sellers (manufacturers, distributors, etc.) as Billers and enables their buyers (retailers, shopkeepers, etc.) to pay for the purchased goods/services across Bharat Bill Pay-enabled channels and modes. Under this category, Bharat Bill Pay will enable sellers to issue multiple invoices to their buyers. Moreover, the buyers will also 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, wallet, IMPS, cash, etc. along with multiple payment channels like Mobile app, Website, Agent, Branch, etc. In order to cater cash flow needs of the B2B segment, Bharat Bill Pay will also allow partial payments in this category.
