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SBM Bank to issue co-branded EnKash credit card on RuPay network for MSMEs and start-ups

Source: SBM Bank

SBM Bank India, EnKash, YAP and RuPay joined hands today to launch India’s most comprehensive business credit card, the SBM EnKash RuPay Business Card.

This corporate credit card would utilise the RuPay network and will be available upon immediate issuance through digital and paperless on-boarding for SMEs, MSMEs and Start-ups at any SBM Bank touch point.

The SBM EnKash RuPay Business Card is designed to streamline business expenditure and finances, through a blend of expense tracking and a 30-day credit period on business purchases, bill payments, travel expenses, automated GST, rental payments, payments to suppliers, online purchase of software, cloud bills payments, utility bills payments, online purchase of inventories among others.

Commenting on the launch, Neeraj Sinha, Head - Retail and Consumer Banking, SBM Bank India, said, “While the small and medium businesses are the backbone of the Indian economy, liquidity and access to funds remain their biggest concerns. Being a young Bank, we have always introduced solutions that can address key issues for the segment, otherwise left untouched by the traditional banks. Towards this end, we are proud to introduce SBM EnKash RuPay Business Card. It will not only offer a 30 day credit period on business expenses, but more importantly empower the small businesses through transparency and technology - to become more efficient.”

Yadvendra Tyagi, Founder, EnKash said, “This partnership is unique as it brings together like minded teams to create world-class product experience for their customers. EnKash- as a B2B Fintech, has made a conscious decision to work towards creating offerings for businesses of all sizes, specially the underserved SMEs and MSMEs. And now with this association along with RuPay, we move one step closer in the journey to create value in the corporate credit card ecosystem in India.”

The Start-ups can manage all corporate payments through SBM EnKash RuPay Business Card. Businesses can on-board to EnKash platform digitally without any paper work and get dedicated customer support facility for handling all their issues. The card offers corporates variable billing cycle, instant bulk pay-outs and at the same time enables them to streamline and automate their cumbersome process of rental payments. Additionally, the card comes with an intuitive dashboard for businesses to analyse their spends and make better business decisions. As part of this partnership, users can also get access to EnKash’s Whatsapp- based expense management service to manage and control all employee and business related expenses on the go. This unique feature helps employees to upload receipts and get approvals instantly, leading to efficient business operations experience.

Praveena Rai, COO, NPCI said, “We are happy to launch the SBM EnKash RuPay Business Card, with the launch of the RuPay Commercial card portfolio. Apart from providing the ultimate shopping experience to retail customers with RuPay Debit, Credit and Prepaid versions, RuPay is in the journey of providing a seamless corporate payments experience to businesses. This SBM EnKash RuPay Business card will assist small business to perform multiple business tasks with ease like paying GST, Travel expenses, Payments to suppliers and more. We believe this card will empower businesses to efficiently organise their business expenses and support working capital needs. We, at NPCI, are constantly working towards bringing in innovative business solutions for diverse set of corporate customers to make them an integral part of our strong RuPay network”.

Madhusudanan, Co-founder - YAP, the company providing the API platform commented, "We are delighted to partner with SBM Bank India to roll out a unique program in the Corporate / SME segment, the timing of the launch is opportune as more SME's look to digitise their businesses and the SBM EnKash RuPay Business Card is right at the intersection of Commerce, payments and convenience.”

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