which bank is associated with the invoice discount for digital invoice discount market for invoices for msme
Answers
Axis Bank is associated with the invoice discount for digital invoice discount market for invoices for MSME. It launched a platform INVOICEMART which was created by A.TREDS,through a joint venture in association with B2B eCommerce company Mjunction Services .
This platform helps in providing financing of trade receivables of MSMEs through various financiers. It also plays an important part in discounting invoices of MSME sellers which are raised against large corporate. This helps in reducing working capital for them.
Invoicemart is a well known Trade Receivables Discounting System (TReDS) available in India that mainly functions as the medium for discounting digital invoices associated with Micro, Small and Medium Enterprises or MSMEs which is involved in receivables financing.
The bank which was first associated with Invoicemart is Axis Bank (2017).
Other banks that got associated with it are Bank of Baroda, DBS bank,etc.