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FINANCIAL TECHNOLOGY | Staff Reporter, India

JP Morgan Invests in Indian fintech startup

Global PayEx offers a cloud-based platform that facilitates electronic invoice sharing.

JP Morgan has invested in India-based fintech firm Global PayEx which operates in the Electronic Invoice Presentment & Payment (EIPP) and business-to-business (B2B) payments space as part of its efforts to assist corporate clients with electronic invoice presentation and quicker reconciliation.

Global PayEx offers Freepay, a cloud-based platform that facilitates the electronic sharing of invoices, handling of payments and management of transaction information between B2B buyers and sellers.

The automated and self-servicing platform has a real-time feature and sophisticated analytics function provide corporates with full visibility of their payment status as well as insights on their receivables collection. Freepay has over 30 live clients across multiple geographies. 

Freepay improves working capital efficiency by digitising all processes in the order-to-cash cycle such as invoicing, dynamic credit and trade terms support, credit/debit notes, instantly applicable cash discounts, full document support for payment decisions including ePoD, and analytics driven dunning. 

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