PNN
Chennai (Tamil Nadu) [India], June 27: Paysharp is an RBI in-principle approved Payment aggregator, focusing on B2B business. Providing two payment collections solutions, a Virtual Account solution and a complete UPI solution for B2B Business at a flat price of Rs 3 as a platform charge.
What is B2B Business?
B2B business means a business that deals with another business as an end customer. and collect payments from the business, in the B2B business mostly ticket size will be high. B2B business works on very thin margins they could not pay in percentage to the payment gateways also settlement time is very critical to them.
B2B Payment and Its Classification
People can now network and connect from anywhere in the globe more easily thanks to disruptive payment technology, which has also inundated the market with possibilities. Finding the ideal B2B payment option for your company can be challenging.
B2B payments are classified as three categories, high ticket, medium ticket, and mixed ticket size.
In high ticket sizes average ticket size will be more than 1 Lac, in medium ticket sizes less than 1 Lac and mixed ticket size is a mix of both.
How Paysharp addresses the gap?
To reduce the cost and settlement time, Paysharp works only on non-card-based payment methods such as UPI and bank transfer methods like NEFT / RTGS / IMPS. So providing UPI payment solutions to address the medium size B2B payments. End customers can make payments in all possible UPI payment methods like intent (UPI deep linking), Collection request, dynamic QR code. For high ticket size B2B business, Paysharp provides Virtual Account solution it is the same as Bank's CMS solution but 10X better than Bank's CMS solution.
Cost and Settlement
The company Paysharp provides special pricing of INR 3 per transaction as a platform fee for Virtual account and UPI product for B2B business, for Virtual account product Paysharp provides same-day settlement.
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