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YES Bank launched new payment solution for merchants to cut cost
June 02, 2023
Digital payment service provider PayU on Thursday announced a new programme in collaboration with Visa and Yes Bank for businesses’ digital payments and to support the digitisation of SMBs in particular. The programme Business Payment Solution Provider (BPSP) offers flexible commercial offerings, which reduce costs for merchants and helps improve cash flow by utilizing credit lines provided by their commercial card issuer bank, according to the company.
Also, it allows businesses to pay their vendors digitally, by supporting them to accept commercial card payments and automates supplier and buyer reconciliation. “BPSP supports the digitization of small and medium businesses in particular, enabling them to accept digital payments easily and facilitates easy credit access,” PayU said in a statement.
“BPSP will digitize the entire value chain for businesses, especially small SMBs, who often lack resources to digitize payments or access credit without considerable expenditure and effort. We are committed to introducing and supporting payment solutions that enable ease of digital payments in the country and help us bring more and more merchants online,” said Mohit Gopal, Chief Operating Officer, PayU Payments.
According to PayU, it has supported over 5 lakh businesses, including enterprises, e-commerce companies and SMEs. The company enables businesses to collect digital payments across over 150 online payment methods such as cards, net banking, EMIs, buy now pay later, QR, UPI, wallets, etc.
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