Zoho has forayed into the payments sector by launching a new service designed to help businesses process online payments from their customers in a unified manner. Zoho Payments allows businesses to securely accept payments through various methods, including credit and debit cards, UPI, and over 35 net banking options.

The solution aims to provide a streamlined checkout experience for users, which is expected to reduce cart abandonment and prevent potential revenue loss. Additionally, the platform offers features such as fraud management, detailed transaction insights, and the ability to handle refunds and payment failures. It also supports businesses in resolving disputes efficiently, which aims to save both time and money.

Integration with Zoho Books and BBPS As a payment aggregator registered with the NPCI Bharat BillPay (NBBL) as a Bharat Bill Payment Operating Unit (BBPOU), Zoho Payments is capable of managing B2B payments and onboarding buyers and sellers onto the BBPS network. Businesses using Zoho Books, the company's accounting software, can exchange invoices and transactions with their network participants due to the integration between Zoho Payments and Zoho Books. Zoho Payments also supports payment methods such as including cards, net banking, RTGS, IMPS, UPI, and NEFT.

Once payments are received, relevant data is automatically updated and reconciled with the corresponding invoice, minimising the need for manual intervention. Additionally, the platform allows businesses to make bulk payments, eliminating the need for manually exporting invoices and processing payments through traditional banking methods. A closer look at Zoho’s product lineup Zoho launched its billing software and expanded its Zoho Subscriptions application in September 2023.

Zoho Billing is a multifaceted billing solution developed for growing businesses, that allows users to experiment with pricing and go to market effectively. Zoho’s expanded application integrates a user-friendly interface with flexible billing functionalities, including estimates, retainer invoicing for advance payments, one-time or flat-fee billing, project billing, expense billing, and Quote-to-Cash (Q2C). Zoho Billing also provides subscription management capabilities, such as trial management, prorated billing, customer lifecycle management, retention, and revenue recovery.

Other features include consolidated and metered billing, online payment collection, and record offline payments. .