Mumbai, April 03, 2025: Axis Bank, one of the largest
private sector Banks in India, today announced that it has partnered with a Fortune
500 company in India to provide B2B collections utilising NBBL’s Bharat
Connect (Erstwhile BBPS). With this, Axis Bank becomes
the first Bank to go live in implementing this pioneering solution, leveraging
its best-in-class, robust API stack.
The solution can integrate multiple ordering
applications across sectors; FMCG, Pharma, Automotives, Healthcare facilitating
collections for the company’s wholesale distributors, stockists. Retailers can
initiate invoice payments directly from the application. As the Biller
Operating Unit capable of offering this unique service, Axis Bank has developed
this seamless, agile, scalable and customisable solution and with support from NBBL Bharat BillPay.
Commenting on the launch, Neeraj
Gambhir, Group Executive & Head - Treasury, Markets & Wholesale Banking
Products, Axis Bank said, “Axis Bank
has been at the forefront in rolling out pioneering digital payments & collections
for its clients. Our partnership with the corporate in coming up with a first
of its kind B2B collections solution is a testament to our best-in-class
Corporate API banking stack. This initiative is an example of innovation in
India’s Digital journey that ensures high customer convenience and seamless payment
experience.”
Noopur Chaturvedi, CEO, NPCI Bharat
BillPay Ltd. (NBBL) said, “Bharat
Connect is expanding its horizon with the introduction of Business to
Business (B2B) invoice payment and financing platform with an aim to streamline
manual processes of large supply chain and distribution networks. We are happy
to have Axis Bank as our key partner and the first bank to go live with the
expanded solution. This further deepens our already strong relationship with
the bank and reflects our shared commitment to democratizing the payments and
collections space.”
About Axis Bank:
Axis
Bank is one of the largest private sector banks in India. Axis Bank offers the
entire spectrum of services to customer segments covering Large and
Mid-Corporates, SME, Agriculture, and Retail Businesses. With its 5,706
domestic branches (including extension counters) and 14,476 ATMs across the
country as on 31st December 2024. The network of Axis Bank spreads across 3,122
centres, enabling the Bank to reach out to a large cross-section of customers
with an array of products and services. The Axis Group includes Axis Mutual
Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS
Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.
For
further information on Axis Bank, please refer to the website: https://www.axisbank.com
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