Thus, the companies have signed an Institutional Aggregation Agreement for enabling B2B payments through NIFT’s Digital Financial Services platform under the brand name ‘NIFT ePay’. The strategic agreement is aimed to promote digitisation of B2B and Supply Chain payments through a contextual railroad designed for B2B payments that is deeply integrated with businesses’ ERP / Supply Chain platforms.
NIFT has worked with its technology partner TPS and strategic aggregator Haball to design a ‘Contextual Funds Transfer (CFT)’ railroad which allows interoperable payments between multiple business accounts. Furthermore, it also provides real-time confirmations to both the payer and the payee of the payment and its context enabling real-time reconciliation.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now