News

Axis Bank Becomes the First Indian Bank to Launch B2B Collections Solution for Businesses.

Banking & Finance | Dated: 04 Apr 2025

In April 2025, Mumbai (Maharashtra)-based Axis Bank Limited, one of the largest Private Sector Banks (PVB) in India, partnered with a Fortune 500 company in India to introduce a B2B (Business to Business) collections solution using Bharat Connect, formerly known as the Bharat Bill Payment System (BBPS), developed by NPCI Bharat BillPay Limited (NBBL).

🎯 Key Highlights:

- This makes Axis Bank the first bank to implement this innovative payment solution, leveraging its advanced Application Programming Interface (API) banking stack.
- It aims to streamline B2B payments, automate processes in supply chains, and improve digital payment efficiency for corporate clients.

💡 Other Important Facts:

(i) The platform integrates with multiple ordering applications across sectors like Fast-Moving Consumer Goods (FMCG), Pharma, Automotives, and Healthcare.
(ii) It enables wholesale distributors and retailers to make invoice payments directly from their applications.
(iii) Axis Bank acts as a Biller Operating Unit (BOU), offering a customizable and scalable solution.

📚 Test Your Knowledge:

Which bank was recently recognized as the first Indian bank to launch a B2B Collections Solution for businesses?

Correct Answer: Axis Bank

🚀 Quick Recap:

About Axis Bank

CEO: Amitabh Chaudhry
Headquarter : Mumbai