EnKash, Asia’s first business spend management platform, has received RBI clearance in principle for a Payment Aggregator (PA) License. EnKash, which was founded in 2018, has assisted over 100,000 firms in digitising and decentralising their corporate payments. The licence will allow EnKash to expand its digital transaction product offerings to millions more enterprises.
Speaking on this Yadvendra Tyagi, Co-Founder, EnKash, “We are excited to get in-principle approval from RBI for our payment aggregator license. This will help EnKash offer innovative products & solutions not only to our existing business ecosystem but also to bring about path breaking and leading technological solutions to the market covering the entire payments flow.
RBI’s in-principle approval to EnKash reiterates the need for digital solutions to manage business cash flows in an efficient way to sustain growth and profitability. This will help us streamline the cash flow process for businesses where they will be able to seamlessly consolidate their all payable & receivable and make necessary actions around payments.”
“We look forward to bringing various products for all-around corporate payments such as forex collections, cross border payments, SAAS collections, specifically to the need-based advanced payments/ collections requirements for different businesses,”he further added.
EnKash’s position as a Spend Management Partner for organisations will be strengthened as a result of the licence acceptance. EnKash provides its business customers with an end-to-end business expenditure management platform to assist them in their transition to digital and operational efficiency. Small to mid-sized businesses and digital startups that use EnKash’s Spend Management platform can benefit from 50% less turnaround time (TAT) when making critical payments such as utility, GST, bill payments for multiple locations, and collections from hundreds of buyers, while also increasing process efficiency and organisational savings by 40 per cent and 30 per cent, respectively.
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