India: SBM Bank on Thursday said it has joined hands with fintech firms EnKash and YAP to launch co-branded business credit on RuPay network for small businesses and startups.
SBM Bank India, EnKash, YAP and RuPay joined hands to launch India's most comprehensive business credit card - SBM EnKash RuPay Business Card, SBM Bank said in a release.
The corporate credit card will utilise the RuPay network and will be available upon immediate issuance through digital and paperless on-boarding for SMEs, MSMEs and startups at any SBM Bank touch point.
The card is designed to streamline business expenditure and finances, it said.
It will provide an 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, and online purchase of inventories, among others.
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"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," said Neeraj Sinha, Head – Retail and Consumer Banking, SBM Bank India.
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