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Trade Receivables Discounting System (TReDS) platform M1xchange has announced a strategic partnership with a B2B (business to business) platform NPCI Bharat BillPay Ltd. (NBBL).
This partnership will allow businesses to access low-cost invoice financing on TReDS directly from their accounting software, said the company in its release. This new financing solution is expected to enhance the efficiency of business payments across India for TReDS-registered companies, added the company further.
Sundeep Mohindru, director of M1xchange said by integrating invoice financing directly into the Bharat Connect platform, we are making it easier for buyers and sellers to access the working capital as and when they need it without leaving their accounting applications. “This seamless experience will empower businesses across India, particularly MSMEs, by enhancing liquidity, reducing payment cycles, and fostering financial inclusion,” said Mohindru.
“Partnering with M1xchange was a strategic decision for us as we recognize the critical role that timely access to working capital plays in driving business growth and sustainability,” said Noopur Chaturvedi, chief executive of NPCI Bharat BillPay. “By integrating TReDS capabilities into the Bharat Connect for Business, we are addressing a significant gap in the market—enabling businesses, especially MSMEs, to streamline their payment processes without disrupting their existing workflows.”
“This collaboration underscores our commitment to fostering innovation and enhancing financial inclusion by providing a comprehensive, secure, and efficient solution that supports the evolving needs of businesses across India,” added Chaturvedi.
Recently, in July, Delhi NCR-headquartered M1xchange signed a memorandum of understanding (MoU) with the Government of Andhra Pradesh to enhance financial access for local Micro, Small & Medium Enterprises (MSMEs) in the state to facilitate their growth and sustainability.