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Axis Bank B2B Collections on Bharat Connect: First in India

4 April 20251 min read
BANKING & FINANCEAxis Bank B2BCollections onBharat Connect:First in India4 April 2025safalsetu.com

Why in the news

Axis Bank and a Fortune 500 company launched business-to-business collections on Bharat Connect (earlier BBPS), run by NBBL, with the bank first to go live.

Key facts

  • Role: Axis Bank is the Biller Operating Unit.
  • Tech: built on its scalable corporate API infrastructure.
  • Reach: works with ordering apps in FMCG, pharma, automotive and healthcare; retailers settle invoices inside the app.

About B2B

B2B is trade between two businesses, not with end consumers, for example a wholesaler supplying a retailer.

About Axis Bank

  • 5,706 domestic branches, 14,476 ATMs, 3,122 centres.
  • Group arms span mutual fund, securities, finance, capital, pension fund, Freecharge and a foundation.

Exam angle

  • Bharat Connect = former BBPS, operated by NBBL.
  • Platform is the first B2B invoice payment and financing platform of its kind.

Test yourself

1. Bharat Connect, on which Axis Bank launched B2B collections, was formerly known as what?

Bharat Connect is the new name for BBPS, run by NBBL.

2. In Axis Bank's B2B collections solution on Bharat Connect, which role does the bank perform?

Axis Bank functions as the Biller Operating Unit.

3. Axis Bank's B2B collections solution on Bharat Connect was the first of its kind by which type of institution?

Axis Bank is the first bank in India to go live with it.

This topic is part of Daily Current Affairs 4 April 2025 (24 topics).

All topics of the dayDay quizApril 2025

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