Zoho Forays Into Fintech, Rolls Out Payment Gateway

Zoho said that it is entering the payments sector with the launch of Zoho Payments. It would be a unified payment solution to help businesses accept money online from their customers, as per media reports.

According to the company, businesses may safely accept payments using cards, UPI, and more than 35 net banking alternatives with Zoho Payments. According to media reports, the payment solution gives end users a seamless checkout process, significantly lowering the cart abandonment rate and preventing revenue leakage. In addition, it provides fraud management, comprehensive transaction insights, refunds, and payment failure reporting. It also makes it simple for businesses to resolve disputes, saving them time and money.

As a payment aggregator registered with the NPCI Bharat BillPay (NBBL) as a Bharat Bill Payment Operating Unit (BBPOU), Zoho Payments can handle B2B payments and onboard buyers and sellers on the BBPS network. According to the company, companies using Zoho Books accounting software may easily exchange invoices and transactions with their buyers and sellers over the BBPS network because Zoho Payments and Zoho Books are intimately connected.

Businesses may also accept and transmit payments using a variety of methods, including cards, net banking, real-time gross settlement (RTGS), immediate payment service (IMPS), UPI, and national electronic fund transfer (NEFT), thanks to Zoho Payments. There will be less need for manual intervention because the pertinent data will be immediately updated and reconciled with the associated invoice as soon as payments are received. Additionally, companies will be able to pay various invoices in bulk, doing away with the laborious procedure of exporting bills and then processing payments through banks.