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India Factoring goes live on MonetaGo's blockchain-based solution

Monday 22 June 2020 15:02 CET | News

India Factoring and Finance Solutions, a non-bank finance factoring companies in India, has gone live with MonetaGo’s blockchain-based invoice fraud prevention solution. 

MonetaGo’s solution allows India Factoring and Finance Solutions to prevent duplicate financing of invoices and helps with the authenticity of invoices and eWay Bills submitted for financing. MonetaGo’s solution helps companies to digitise their trade receivables workflow and integrate with the company’s existing systems.

Apart from detecting duplicate invoices being submitted for financing, the platform also authenticates invoices with India’s Goods and Services Tax Network (GSTN) database and verifies the eWay bills with the NIC eWay Bill portal.


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Keywords: India, India Factoring, MonetaGo, blockchain, invoice, fraud, eWay Bills, India’s Goods and Services Tax Network, GSTN
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: India
This article is part of category

Banking & Fintech