A B2B supply chain management platform called Actyv.ai and a provider of digital payment technology called Mswipe has teamed together to expand the payment alternatives available to Indian retailers.
The agreement was revealed by Actyv.ai on its Facebook page. Through this partnership, Actyv.ai’s technical stack will be used by Mswipe, enabling the merchants to make informed choices about their distributors and suppliers.
The enterprise clients of actyv.ai will benefit from Mswipe’s omnichannel payment solutions and business loans.
Actyv.ai announced in September that it had improved its platform by incorporating a B2B buy now, pay later (BNPL) option and insurance, claiming that doing so would speed up and simplify business transactions. This cooperation follows that announcement.
Using its SaaS [software-as-a-service] technical platform, Actyv.ai, according to the company, “enables easy onboarding of distributors and suppliers onto an enterprise’s network.” The company’s objective is to provide alternate forms of funding to an enterprise’s channel partners, per their financial and non-financial data.
Mark Hansen, CFO of Entrata, said: “This digital revolution is just getting started.
The use of numerous apps and services, such as Apple Pay and Google Pay, is currently modernizing B2B payments. Since people there are used to seeing financial and transaction information instantly, that could be a target.
To get there, though, a number of back-office processes would need to be modernized, like automating accounts payable (AP), which will persuade more vendors to accept digital payments rather than the conventional paper check.
It will take time as well. According to Galileo CPO David Feuer, consumer credit cards, which were first introduced in the late 1950s, took ten years to gain popularity.
