The M1xchange extension for Zoho Books supports Indian small and medium businesses (SMBs) with their digitization journey by enabling them to seamlessly access financing and manage their finances through a one-stop digital solution. After installation of this extension in Zoho Books, the user can discount their invoices through M1xchange (TReDS Platform) with just a few clicks.
| Deployment type | Zoho platform |
| Published date | Feb 8, 2022 |
| Version | 1.0 |
| Category | Finance |
| Pricing | Free |
| Vendor Website | |
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| M1xchange 288A, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India |
M1xchange TReDS is a digital marketplace to sell the receivables to banks/NBFC set up under the approval of Reserve Bank of India (RBI) to facilitate the discounting of invoices and bills of exchange on a PAN India basis.
On November 24th, 2015, Reserve Bank of India (RBI) granted “in-principle” approval to three companies to set up Trade Receivable Discounting System (TReDS) platform. Mynd Solutions Pvt Ltd, is one amongst the three companies set up the TReDS platform ‘M1xchange’ on April 7th, 2017 under the Payment and Settlement System (PSS) Act 2007 to facilitate discounting of invoices and Bills of exchange for MSMEs on PAN India basis. M1xchange was launched on 7th April 2017 to service the finance needs of MSME across India. The exchange enables MSME to secure finances by converting their trade receivables into liquid funds, on without recourse basis. The exchange has hosted Nationalised, Private and Foreign banks to finance these receivables at most competitive rates with a unique model of bidding by the banks.
Key participants in TReDS are Micro, Small & Medium Enterprises “MSME” (Suppliers), large Corporates including PSUs and Govt. Departments (Buyers) and Banks/NBFCs (Financiers). M1xchange aims to provide MSMEs Supply chain related cash flow finance at competitive rates through an open bid process via multiple financiers. Financing on M1xchange is “Without Recourse” to the MSME supplier as per RBI guidelines. M1xchange employs the latest technologies to ensure the authenticity of the underlying transactions.
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Hello,
I would recommend you to try M1xchange for Zoho Books. It would add a lot more value to your Books account.
You can install the app in just two easy steps. Click on 'Install now' button.
Sincerely,
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