Indian FinTech firm Zaggle has reportedly launched a product known as Zoyer that brings accounts payable (AP) and bank card funds collectively on a single platform.
The platform simplifies and automates B2B payments for small- to medium-sized companies (SMBs) and enterprises, streamlining B2B payables and enabling efficient administration of working money flows and enterprise efficiency, IBS Intelligence reported Thursday (Sept. 15).
“Beyond digitalizing core invoicing and payment flows, with Zoyer, we are laying a strong growth foundation by enabling businesses to manage liquidity through better allocation of working capital and providing an immediate credit line tied to credit cards,” Zaggle CEO Avinash Godkhindi stated within the report.
By embedding Zaggle-branded card merchandise instantly into AP workflows for seamless funds, Zoyer allows companies to securely and effectively handle vendor funds, utility funds and tax funds, in accordance with the report.
It additionally presents earned rebates and money again to assist companies optimize processing prices, and it supplies entry to fast credit score so companies can meet their working capital wants, per the report.
Zoyer is the newest addition to the corporate’s product line of built-in card merchandise bundled with Software-as-a-Service (SaaS)-based enterprise spend options, the report said.
“Enterprises and [SMBs] have a significant need to digitalize B2B payment processes so they can rapidly adapt to changing market dynamics,” Godkhindi stated, per the report. “But the segment remains vastly underserved by incumbent solutions and limited self-manageable credit cards or corporate cards.”
Zaggle introduced its entry into the neobanking area in May 2021, saying it meant to take a look at “major challenges” confronted by SMBs and assist the house owners of SMBs monitor the monetary standing of their corporations and handle money flows.
Read extra: Zaggle Debuts Neobanking Service for SMBs
As PYMNTS reported on the time, India’s economic system is dwelling to round 20 million mom-and-pop companies that account for 88% of the brick-and-mortar market.
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