Tide, a UK-based financial platform for businesses has introduced a Bill Payments feature in collaboration with Setu, powered by Bharat BillPay under the National Payments Corporation of India (NPCI). This feature aims to offer a convenient, interoperable, and accessible bill payment service to micro, small, and medium enterprises (MSMEs) throughout India. Because small business owners use their personal accounts for both personal and business expenses to minimise costs, this leads to confusion in accounting and reduces visibility on business spending. Tide Billpay is designed to address this common challenge for small business owners.
Tide is focused on establishing a significant presence in India, seeing it as a lucrative market. The company intends to introduce various features for small businesses, such as Business Savings/Current Account, bank transfers, GST, pay-by-link, and credit services.
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