The US and Chennai-based SaaS agency additionally launched B2B funds capabilities that streamline bill presentment and funds. The B2B funds capabilities of Zoho Funds are powered by Bharat Invoice Cost System (BBPS) of NPCI Bharat BillPay Restricted (NBBL). Zoho obtained a cost aggregator license from RBI in February 2024.
“At Zoho, we strongly imagine that enterprise finance, banking, and funds ought to work collectively,” Sivaramakrishnan Iswaran, World Head of Finance and Operations BU, Zoho, stated in a press release. “In direction of this imaginative and prescient, we had launched our ‘Linked Banking’ resolution throughout our finance apps, integrating with main banks. With the launch of Zoho Funds in the present day, together with B2B cost capabilities, we’re in a position to obtain our objective.”
Amongst different services, NBBL’s BBPS supplies a number of cost modes, prompt cost confirmations, bill financing, and a unified platform for bill transmission and reconciliation, he added.
With shut integrations with Zoho’s personal enterprise purposes within the finance area equivalent to Zoho Books, Zoho Billing, and Zoho Bill, the software program main will now be capable of supply an end-to-end monetary administration resolution to purchasers.
Zoho Funds is PCI-DSS degree 1 compliant and can allow companies to securely settle for funds via UPI, 35+ Internet Banking choices, and playing cards. It additionally presents fraud administration, detailed insights on transactions, refunds, cost failures, and different dispute administration instruments.
Zoho introduced their funds foray on the World Fintech Fest organised by Funds Council of India (PCI), Nationwide Funds Company of India (NPCI), and Fintech Convergence Council (FCC) in Mumbai.
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