PayU partners with Marg ERP to streamline digital payments for pharma distributors

PayU and Marg ERP have announced a strategic partnership to power Marg Pay, Marg ERP’s integrated payments solution for digital payment collection and reconciliation for pharma distributors and MSME retailers. The partnership integrates PayU’s payment infrastructure into Marg ERP’s workflow, creating a connected environment for ordering, payments and reconciliation. According to the companies, manual payment reconciliation has remained a challenge for pharma distributors and MSME retailers due to the time and errors involved, as well as exposure to cash pilferage. For pharma distribution, the companies said these challenges can translate into working capital risk, revenue loss and customer churn. Marg Pay, integrated with PayU’s payment solution, will enable invoicing, collection and reconciliation through digital payment workflows. MSME retailers will be able to generate Dynamic QR codes against individual invoices, enabling digital payments to be automatically reconciled within Marg ERP. Distributors will be able to generate payment links against individual invoices, with payments reconciled bill-by-bill and posted directly into the ERP. The companies said this will support faster collections, same-day settlements and operational efficiency. “Digital payments are integral to how businesses operate, yet collections and reconciliation remain fragmented and laborious. Together with Marg ERP, we aim to simplify financial administration and bring more predictability to the cash flow of Indian pharma distributors and retailers. This deepens Marg ERP’s role in digitising the pharma sector while expanding PayU’s positioning as an embedded finance aggregator.”, said Vineet Sethi, Chief Growth and Marketing Officer, PayU. “Digital payments are no longer just about collecting money, they are about creating smarter financial cash flows for all trades. Through our partnership with PayU, we are strengthening the Marg Pay ecosystem to help distributors, retailers and MSMEs accept payments securely. Not only payment, Marg Pay also facilitates the reconciliation for retailers and distributors accounts automatically. We enable businesses to operate with greater efficiency and confidence”. – Thakur Anup Singh, CMD, Marg ERP Ltd. The partnership will also extend to Marg’s eRetail application, which supports B2B ordering, payments and reconciliation. The post PayU partners with Marg ERP to streamline digital payments for pharma distributors appeared first on Express Pharma.