Zoho Unveils Zoho Payments for Secure B2B Transactions

Zoho has launched Zoho Payments, a new payment solution allowing businesses to securely accept UPI payments. The service also supports B2B payments through the Bharat Bill Payment System, enhancing financial management capabilities for businesses.

Global technology firm Zoho on Thursday launched Zoho Payments, a unified payment solution to enable businesses securely accept payments from their customers through UPI.

Zoho Payments is a product of Zoho Payment Technologies, a wholly-owned subsidiary of Zoho Corporation.

The Chennai-based firm also introduced B2B payments capabilities powered by Bharat Bill Payment System (BBPS) of NPCI Bharat BillPay Limited (NBBL).

Zoho Payments as a payment aggregator has been registered as a Bharat Bill Payment Operating Unit (BBPOU) with NBBL, enabling it to onboard buyers and sellers on the BBPS network and facilitate B2B Payments.

''NBBL's BBPS standardises invoice presentment and payments, providing multiple payment modes, instant payment confirmations, invoice financing, and a unified platform for invoice transmission and reconciliation.

''This marks a major advancement in the fintech domain. As a result, we can now offer a more holistic financial management solution for businesses,'' Sivaramakrishnan Iswaran, Global Head of Finance and Operations BU at Zoho, said.

(With inputs from agencies.)