Neo Banking in India is making its strong foothold in the financial sector. Deposits, withdrawals, transfers and investments can now happen digitally. InstantPay is one such form of neo banking solution that aims to serve all the key stakeholders of the banking system.
Let’s discuss everything you need to know about Business Banking through InstantPay.
InstantPay Business Banking
Start-ups are an essential instrument in shaping the Micro, Small and Medium Enterprises in Atmanirbhar India. Also, banks have noticed a business opportunity in helping start-ups. And lately, Business Banking is growing its presence as a neo banking solution for New Bharat. Millennials, who own a firm, are using it to spend, save and manage their money. Apart from them, these services also cater to the needs of the unbanked, the small businesses, and more. Traditional banking is now beginning to look like a thing of the past!
Business Banking offers everything you would expect from a modern neo bank in India. But, what separates InstantPay neo banking solutions from the rest? And what does InstantPay Business Banking mean for an individual, a small business or a large firm?
Here are the top ten distinct features of InstantPay Business Banking solution:
1. Open a Zero Balance Digital Current Account: We are aware of the challenges associated with handling a start-up. If you own a small business, you can set up a zero balance digital current account for your firm with InstantPay. You will not have to worry about maintaining a minimum amount as a balance.
2. Get an Overdraft Business Loan: With InstantPay, you receive an overdraft or Business Loan almost instantly with minimal paperwork.
3. Make Payment and Collections: InstantPay neo banking platform ensures that you can send and receive money from vendors and customers through various modes, such as UPI, NEFT, RTGS, IMPS, and net banking etc.
4. Manage Expenses: InstantPay neo banking solutions enable you to manage all your expenses from a single dashboard on your web and mobile applications.
5. Use Prepaid Card (Virtual and Physical): This is a pre-loaded card, with the option of choosing any amount to load onto the card. Additionally, you can get a Visa or Rupay prepaid card, which you can use at merchant outlets and ATMs.
6. Get Access to Value Added Services: You can make the most use of services, such as bill payments, insurance, travel bookings and many more through InstantPay Business Banking.
7. Make use of Built-in CRM: The InstantPay neo banking platform easily integrates with your Client Relationship Management (CRM) and Enterprise Resource Planning solution.
8. Make Bulk Payment and Schedule: Users can carry out bulk payment, such as salary payment and more, through InstantPay Business Banking. You can also schedule them as per your needs.
9. Track Business Transaction: InstantPay Neo Bank account allows you to track your business transactions and analyse all your employees spend when they use your prepaid card. You can check all the details on your mobile and web-based dashboard to understand your cash flow better.
10. Complete security with Mobile Banking: InstantPay Neo bank account comes with mobile banking services, at your fingertips, allowing you to bank any time and everywhere. It also ensures that all your transactions are completely secure.
Well, this is just the beginning of Neo Banks in India. These features will undoubtedly benefit anyone who owns a business, whether it is a large firm or a small one. We wonder what the future looks like!