Global PayEx proclaimed that JP Morgan has done strategic investment in the company so the company can improve client experience via electronic invoice presentation and fast reconciliation.
Essentially, Global PayEx renders B2B payments as well as electronic invoice presentment. The company provides a cloud-based platform named Freepay. With Freeway, the company facilitates in sharing invoice, managing payments and organization of transaction information between B2B buyers as well as sellers, Global PayEx said in its statement as told by the Indian daily news, Economic Times.
"This investment is a great example of our commitment to address our clients' specific concerns in the B2B payments space, which continues to grow at an exponential pace," head of wholesale payments for Asia Pacific at JP Morgan, Sridhar Kanthadai told the Indian daily news, The Economic Times.
The payment portal is completely automated and self-servicing and thus saves time as well as cost. The real-time feature enabled in the platform renders full visibility of the payment and gives information regarding the receivable collection to the corporate companies, which assist in making the best use of working capital, the companys release statement said.