Q2Pay is a platform that allows large corporates to automate and manage their nationwide payments to vendors.

Current Practice

• Cheque
• Bank Draft
• NEFT
• RTGS

Current Flow

• Vendor is shortlisted.
• Payment terms are agreed.
• Vendor is enrolled and allotted vendor ID in your ERP.
• Invoices are uploaded to your ERP.
• Payment is made by Cheque/Bank draft/NEFT/RTGS.

The Issue

• For timely payments to be made your current account needs to have sufficient balance or
• Bank credit line or Overdraft facility needs to be available.

Many a times

Vendor Payments often get delayed resulting in unhappy and disgruntled Vendors which boils down to delay in receiving raw materials, products and services which leads to further inefficiencies.

The Solution

Q2Pay web based solution will allow payments to be made using Credit Cards.

Why this can't be done currently

• To make payment using Credit Card the vendor has to have a merchant ID.
• The Vendor has to have the capability to accept card payment using a POS (point of sale) terminal or a website that has an online payment gateway.
• POS terminal requires physical interaction and swiping of the card.

Q2Pay Solution

• The vendors receiving payment don't need to have any Merchant ID.
• The vendors don't need card processing capability nor POS terminal.
• The payment will be credited to Vendors account with any bank in the country.
• The system has the capability to interface with your ERP.
• The system has the capability to make payments to vendors batch wise or individually, collectively or selectively using one or combination of cards.
• The system has capability to given reverse data feed to your ERP of payments made, denied, on-hold etc.

Benefits for your organization

• Extended Credit Period : Extended payment terms with choice of card billing cycles.
• Increased Savings : Opportunity to operate at a lower working capital cost.
• Safety & Controls : Robust payment controls to avoid card misuse.
• Reduced Paperwork : Service Provider arrangement with corporate eliminates paperwork for vendor enrollment.
• Comprehensive Reports : Detailed reporting on supplier payments, credit period, savings etc.
• Enhanced Data : Enhanced data capture like PO No., Invoice No., Cost Centre etc. on Axis statement for audit & recon purpose.