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Paysharp Brings B2B Payment Solutions with Flat Charges for Indian Enterprises

By Steve Murphy
December 17, 2020
in Accounts Payable, Analysts Coverage, B2B, Commercial Payments
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Paysharp Brings B2B Payment Solutions with Flat Charges for Indian Enterprises

Paysharp Brings B2B Payment Solutions with Flat Charges for Indian Enterprises

Digitalization is a global thing, and one of the most vibrant markets for innovation is India, where the push for digital payments access and transformation has been underway for years. This has been as a result of government initiatives as well as private fintech startups. 

This brief posting in Express Computer discusses a 2019 startup named Paysharp that is based in Chennai, India, and provides what they describe as a “next generation fintech payment solution for business which automates payment reconciliation.”

‘Paysharp is a leading B2B virtual account and payment solution provider in India offering flat transaction charges to enterprises. Paysharp offers a flat charge of INR 12 for all transactions beyond INR 2000. Paysharp has achieved profitability within seven months of its launch. The fintech startup is now looking to expand its B2B product offerings and increase footprints pan-India….Small to big companies in the B2B sector in India are still making their payments manually by logging into the internet banking portals of different banks. At times, they even make the payments via cheques. This means time and resource consumption for all payments and reconciliation. Due to the manual nature of the payments, month-end reconciliation, handling cancellations, and refunds are also more complicated than necessary.’

We have not received a briefing on the inner workings of Paysharp’s capabilities but one major appeal is pricing. Paysharp is integrated with three of India’s main payments systems: NEFT and RTGS (managed by the RBI) and IMPS, the real-time system (managed by the NPCI). The high value payments for B2B uses is where Payshare targets their activities. Making the process easier and faster are key themes for success in this new period of modernized payments.

‘A flat fee payment solution for NEFT, RTGS, and IMPS payments along with enterprise-grade automated reconciliations makes Paysharp attractive to B2B businesses. Paysharp provides seamless virtual account creations for collections from different partners along with easy to integrate APIs that one may need to accept payments through websites.’

Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group

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