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November 20, 2017

Infibeam receives regulatory nod to launch B2B payment service in India

By Shruti T

The Reserve Bank of India (RBI) has granted online retailer Infibeam an in-principle licence to launch B2B payment service in the country.

The company will enable corporates to pay their utility bills and other invoices by integrating its B2B payments capabilities into its existing CCAvenue payments platform.

The company is also planning to integrate the Bharat Bill Payment System (BBPS) into the payments platform.

Infibeam has already initiated signing up agents for this business and is expected to shortly launch its new B2B app.

Recently, the Government of India selected Infibeam and its Chennai-based consortium partner Intellect as a B2G service provider by to run the Government e-Marketplace (GeM) portal, which will fulfill the all the procurement needs of central and the state governments.

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