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The National Payments Corporation of India, on Thurdsay, launched the RuPay commercial credit card. SBM Bank India, EnKash, YAP, and RuPay have partnered to offer this business credit card.
The SBM EnKash RuPay Business Cardwill 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.
“It 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,” NPCI said in a statement.
It was launched at the Global Fintech Fest.
“This SBM EnKash RuPay Business card will assist small business to perform multiple business tasks with ease such as paying GST, travel expenses, payments to suppliers and more,” said Praveena Rai, COO, NPCI.
Neeraj Sinha, Head, Retail and Consumer Banking, SBM Bank India, noted that while the small and medium businesses are the backbone of the Indian economy, liquidity and access to funds remain their biggest concerns.
“It will not only offer a 30-day credit period on business expenses, but more importantly, empower small businesses through transparency and technology to become more efficient,” he said.
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