SBM EnKash RuPay Business Card launched at the Global Fintech Fest

Source: IBS Intelligence 2020-07-24

The SBM EnKash RuPay Business Card has been launched today with the joint collaboration by SBM Bank India, EnKash, YAP, and RuPay. The corporate credit card will utilise the RuPay network and be available upon immediate issuance through digital and paperless onboarding for SMEs, MSMEs, and start-ups at any SBM Bank touchpoint.

The comprehensive business credit card has been designed to streamline business expenditures and finances through a blend of expense tracking and a 30-day credit period on business purchases, bill payments, travel expenses, automated GST, rental payments, payments to suppliers, online purchase of software, cloud bills payments, utility bills payments, and online purchase of inventories, among others.

Neeraj Sinha, Head – Retail and Consumer Banking, SBM Bank India enunciated, “While the small and medium businesses are the backbone of the Indian economy, liquidity and access to funds remain their biggest concerns. Being a young Bank, we have always introduced solutions that can address key issues for the segment, otherwise left untouched by the traditional banks. Towards this end, we are proud to introduce SBM EnKash RuPay Business Card. It will not only offer a 30 day credit period on business expenses, but more importantly empower the small businesses through transparency and technology – to become more efficient.”

Yadvendra Tyagi, Founder, EnKash encapsulated, “This partnership is unique as it brings together like minded teams to create world-class product experience for their customers. EnKash- as a B2B Fintech, has made a conscious decision to work towards creating offerings for businesses of all sizes, specially the underserved SMEs and MSMEs. And now with this association along with RuPay, we move one step closer in the journey to create value in the corporate credit card ecosystem in India.”

Start-ups have the convenience of managing all corporate payments through the card. Businesses can on-board to the EnKash platform digitally without paperwork and get dedicated customer support facilities for handling their issues. The card offers corporates variable billing cycle, instant bulk pay-outs and at the same time enables them to streamline and automate their cumbersome process of rental payments.

Praveena Rai, COO, NPCI expounded, “We are happy to launch the SBM EnKash RuPay Business Card, with the launch of the RuPay Commercial card portfolio. Apart from providing the ultimate shopping experience to retail customers with RuPay Debit, Credit and Prepaid versions, RuPay is in the journey of providing a seamless corporate payments experience to businesses. This SBM EnKash RuPay Business card will assist small business to perform multiple business tasks with ease like paying GST, Travel expenses, Payments to suppliers and more. We believe this card will empower businesses to efficiently organise their business expenses and support working capital needs. We, at NPCI, are constantly working towards bringing in innovative business solutions for diverse set of corporate customers to make them an integral part of our strong RuPay network”.

Madhusudanan, Co-founder – YAP, the company providing the API platform enthused, “We are delighted to partner with SBM Bank India to roll out a unique program in the Corporate / SME segment, the timing of the launch is opportune as more SME’s look to digitise their businesses and the SBM EnKash RuPay Business Card is right at the intersection of Commerce, payments and convenience.”

With the card, businesses can analyse their spending with an intuitive dashboard, thereby leading to better business decision outcomes. As part of this partnership, users can also get access to EnKash’s Whatsapp-based expense management service to manage and control all employee and business-related expenses on the go. This feature helps employees to upload receipts and get approvals instantly, leading to efficient business operations experiences.

BM EnKash RuPay Card

SBM EnKash RuPay Business Card launched at the Global Fintech Fest

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