India, 20th January 2023: SabPaisa, the world’s first API Driven Unified Payment Experience Platform (UPE), is a rapidly growing fin-tech company. SabPaisa has launched India’s first B2B e-collect, a product designed exclusively for B2B payments. The comprehensive APIs built around all workflows ensure that the B2B Payments life cycle is secured and complete.
B2B e-collect is a unique innovation designed for business houses to collect payments from their partners/dealers/agents through Virtual Account Number (VAN) with prior validation. It works around automated reconciliation, a pain area every business house suffers. Business houses of any scale can save on the additional resource cost with this product. B2B e-collect offers a single dashboard to access reports from multiple bank accounts for multiple payment modes like Cash, NEFT, RTGS, IMPS, Fund Transfer, Cards, Net banking & Wallets.
- Virtual Account number (VAN) for every transaction, specific to the merchant’s requirement, makes the payment even more secure and manageable. Single VAN for all types of payments; regular, partial, as and when, or recurring.
- Pioneers of providing a single dashboard for VAN reports across multiple bank accounts; access reports from multiple/single bank accounts in a single place, no worries of managing multiple dashboards.
- Third Party Verification for all online and offline transactions
- Quick and easy integration with SabPaisa Payment Gateway.
Mr. Kumar Manish, Founder of SabPaisa, said, “B2B e-collect will benefit business houses of every size by simply integrating with SabPaisa’s robust Payment Gateway for secure VAN-enabled payments. B2B payment using virtual account numbers is a valuable service for businesses looking to streamline and automate their payment processes. VANs are unique, secure, and transparent identifiers that track business payments. With B2B e-collect, business houses can efficiently and accurately reconcile their payments in real-time, reducing the risk of errors and improving cash flow. B2B e-collect using virtual account numbers is a powerful solution for businesses looking to optimise their payment processes and improve financial efficiency.”
Mr. Pathikrit Dasgupta, CEO of SabPaisa, said, “SabPaisa will be solving real problems in the B2B segment with B2B e-collect. SabPaisa’s Neo Banking B2B payment solution, enabled with a virtual account number, will help businesses overcome reconciliation challenges and improve their payment processes. Virtual account numbers help businesses reconcile their payments more accurately and efficiently, reducing errors and improving cash flow in a single dashboard by providing a unique, secure, and transparent way to track payments with third-party validation on VAN collection.”