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KredX partners ICICI Bank to offer cashback commercial card
April 08, 2022
Supply chain finance organization KredX has partnered ICICI Bank to offer ‘ICICI Bank-KredX Commercial Card’, for B2B payments. The first-of-its-kind cashback card enables businesses to avail financial rewards quickly for all B2B payments, without causing any extra expense.
Through this association, KredX aims to disburse upwards of ₹2,000 crore business-to-business vendor payments each month. The organization additionally hopes to increase client base 300% by the end of this year.
As per the organization, this partnership creates a one-of-a-kind offering to empower B2B payments by settling the intricacies related to these payments, particularly seller payments across parts.
The commercial card gives a single view dashboard to all the payment transactions and a management interface. Hence, giving business proficiency and added financial benefits with the cashback that complements the efforts of businesses for B2B payments.
To further enhance the rewards, there is an embedded option of dynamic discounting where the clients can run early payments for their vendors and get added discounts on invoices payables. Dynamic discounting helps treasury earn discounts limits while parallelly helping the vendors with getting early and rapid access to capital on demand, subsequently guaranteeing a financially healthy supply chain.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/