InstantPay launches neo-banking offerings for SMEs

NEW DELHI: InstantPay reiterated its attention on the SME enterprise with its release of the primary-of-its-type Neo-banking offerings.

This new age branchless banking answer will allow SMEs the gain of coping with all their payments, collections and reconciliation on a single and seamless interface. With its 100% digital and cellular platform InstantPay is attempting to reinvent the practices of a traditional financial institution, while on the equal time ensuring that they’re extra price-effective, automatic and c.

This will allow SMEs to avail cash control and other financial services which have been in advance most useful available to massive corporates and ERP solution companies. For this, InstantPay is partnering up with massive banks and integrating its core banking services on its platform. With one of this partnership, InstantPay is likewise supplying quick unsecured overdraft facility to the SMEs, to in turn assist solve their credit problems.

In an announcement Amol Sonbarse, head of business, InstantPay, said, “We have were given over a 1,000 SMEs in last one month on this platform. The response has been encouraging. We are confident that our banking service will locate an instant hook up with the SMEs. We are now ramping up operations to onboard over 50,000 SMEs at the platform via the end of FY20.”