What Is Zoho Payments? Platform To Enhance B2B Transactions

Zoho has officially launched the online payments sector with the introduction of Zoho Payments for B2S Transactions, a wide payment solution designed to help businesses receive payments online from their customers.

What Is B2B Transaction?

Business-to-business (B2B), also known as B-to-B, refers to transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. B2B involves commerce conducted between companies, rather than between companies and individual consumers.

Zoho Payments is a PCI-DSS Level 1 (Businesses processing over 6 million transactions per year) platform that ensures secure processing of transactions across various channels, including UPI, over 35 net banking options, and major credit and debit cards. 

This new Zoho Payment solution combines seamlessly with Zoho’s existing suite of finance and operations applications, such as Zoho Books, Zoho Billing, and Zoho Invoice.

,Zoho Payments:

Regarding this, Sivaramakrishnan Iswaran, Global Head of Finance and Operations BU at Zoho stated, “At Zoho, we are committed to the integration of business finance, banking, and payments. Our vision has always been to create a unified financial ecosystem. The launch of Zoho Payments, alongside our B2B payment capabilities, is a significant step towards realizing this vision.” 

He added that Zoho Payments, coupled with B2B payment features powered by the Bharat Bill Payment System (BBPS) from NPCI Bharat BillPay Limited (NBBL), will streamline invoice management and payment processes directly within Zoho Books, enhancing transactional efficiency.

Zoho Payment Modes:

The platform offers a variety of payment modes, instant payment confirmations, invoice financing, and a unified approach to invoice transmission and reconciliation. Businesses will also benefit from features such as bulk payments and financing options for unpaid invoices.

Zoho Payments provides a seamless checkout experience, reducing cart abandonment rates, and minimizing revenue leakage. The platform also includes robust fraud management tools and comprehensive transaction insights, including detailed reports on refunds, payment failures, and dispute resolution.