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Safexpay launches neo banking platform NeuX

Source: Safexpay

Safexpay, a leading digital payments company launches NeuX, an enhanced neo banking platform for MSMEs, Corporates and B2B businesses.

The new platform aims to solve multiple challenges and digitise the entire business operations. Its objective is to digitally transform the B2B payment and workflow landscape by offering a comprehensive banking and easy business solution management. The company aims to target 50-70 million merchants (distributors and retailers) in the key sectors to provide comprehensive B2B digital solution.

Safexpay aims to onboard 2,000-4,000 MSMEs and B2B businesses across the country annually through bank partnerships, fintech partnerships or collaboration with distributors/supplier/retailers. Additionally, the platform has been developed to manage approximately ₹1 Billion per year payment transactions.

In the B2B landscape, challenges include managing multiple partners with complex ERP and banking relationships, high integration costs imposed by traditional banks and B2B players, the persistence of outdated payment modes despite numerous players, and a lack of comprehensive solutions that cater to all parties' needs. NeuX tackles these challenges while serving as a comprehensive one-stop B2B platform facilitating seamless payments through payouts and introducing a value-added services layer atop existing payout platform.

It provides businesses with access to superior integrated platform that simplifies operations, encompassing purchase and sales management, inventory control, and insightful dashboards. This signifies the onset of a new age in digital B2B business. Customised to the requirements of companies aiming to scale their operations, improve efficiency, and enhance accessibility and convenience, NeuX offers a comprehensive 3600solution.

Ravi Gupta, Founder and CEO of Safexpay, shared his views about NeuX's launch, stating, "NeuX marks a significant step towards consolidating the B2B digital payments and value-added services ecosystem under one roof, enabling businesses to efficiently manage workflows and other critical tasks. We aim to extend this service to businesses that will assist in accelerating their growth along with the country’s growing economy. With India being a home to over 100 million key distributors in B2B supply chain, we are committed to empower them in their transition from offline to online operations, thereby streamlining their business processes and payments. MSMEs contribution to India’s economy is immense, as they grow, they contribute on a larger scale. By guiding and supporting them with digitisation and solution driven platforms, the economy can benefit from innovation, convenience of business and entrepreneurship."

NeuX has been designed to serve the tailored needs of MSMEs across an array of sectors, including FMCG, Pharma, Agriculture, E-commerce, and others. It even caters to entities with or without supply chain modules, making it a versatile solution for those looking to digitise their workflows and payments. Unlike conventional neobanking services limited to payouts, it provides a holistic value-added service of B2B workflow management solution guiding businesses through purchase creation, inventory management, and product/service sales and many more. While payments remain pivotal, NeuX transcends this role, serving as a vital enabler of a seamless and uninterrupted business journey.

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