Axis Bank Pioneers First B2B Collections with Fortune 500 Company

Axis Bank partners with a Fortune 500 company to launch a B2B collection service using NBBL's Bharat Connect. The solution integrates various sectors and streamlines payment processes for wholesale distributors and retailers. This move marks a significant advancement in India's digital payment landscape.

Axis Bank, one of India's leading private sector banks, has announced a strategic partnership with a Fortune 500 company to implement a pioneering B2B collections system via NBBL's Bharat Connect.

This innovative solution allows seamless integration across sectors like FMCG, Pharma, Automotive, and Healthcare to facilitate collections for distributors and retailers. It enables retailers to make invoice payments directly through the application.

Neeraj Gambhir, Axis Bank's Group Executive, emphasized the significance of this solution in the digital transformation of India's payment landscape, while Noopur Chaturvedi, CEO of NPCI Bharat BillPay Ltd., stressed the system's role in optimizing manual processes in large supply chains.

(With inputs from agencies.)