Payment aggregator BillDesk on Monday announced a partnership with global financial institution J.P. Morgan to offer online payments solutions to the bank’s corporate clients in India.
Through this partnership, J.P. Morgan’s clients in India will be able to independently initiate statutory and utility payments online with more than 100 merchants that BillDesk partners with, securely and without additional manual assistance from their partner banks.
The solution integrates BillDesk’s payments platform with the J.P. Morgan Access banking portal, and uses Application Programming Interface (API) technology to authenticate and verify payments instantaneously, allowing payments to be executed in real time.
"This partnership is a great example of J.P. Morgan’s commitment to leverage local innovation to offer a simplified payment experience to corporates,” said Guhaprasath Rajagopal, head of Wholesale Payments for India, J.P. Morgan. “In the past, the initiation of statutory and utility payments required our clients to engage in fairly manual processes.”
The process is fully automated and the bank claims that corporates can fulfill their statutory and utility payment obligations in a secure and convenient manner, while saving on time and costs.
“Our platform combines leading-edge technology with extensive expertise to offer reliable and powerful payment processing solutions to digitize day-to-day payments of corporates in India,” said Karthik Ganapathy, director and co-founder of BillDesk.