Zuron is Block-chain based Supply Chain Finance and Invoice discounting platform.
Zuron connects buyers, their MSME sellers and financiers to enable MSMEs to receive quick payments for their invoices.
Zurons’ Supply Chain Finance platform helps supplier avail credit against approved invoices from the buyer via end-to-end seamless & integrated process and minimal paperwork.
The objective of Zuron is to facilitate financing of invoices of MSMEs drawn on their buyers by way of factoring.
Suppliers categorized as MSMEs, Corporate buyers and financiers (banks / NBFC) can participate on Zuron.
Factoring is a process which enables suppliers to reduce the payment period for their goods/services.
It does this by introducing a financier between the supplier and the corporate buyer. The financier finances the supplier against the invoice / bill of exchange raised on the corporate buyer for the goods/ services provided by the supplier.
Yes, the platform is for MSMEs from both manufacturing and services sectors.
KYC documentation shall be in line with the documentation / verification done by the banks as per the existing regulatory requirements.
If you’re a corporate buyer, an MSME supplier, or a bank/NBFC factor, yes you can participate on Zuron.
The facility is limited to MSME sellers who are referred by their corporate buyers on boarded on Zuron. If you’re a financier, you must have a factoring license from the RBI. There is no restriction on buyers, but you need to have MSME suppliers.
You can register online.
You can become a user now and register yourself by following this link.
To transact on Zuron, you need to be registered with us as a buyer, seller or financier. You will be given an account login ID with which you will be able to sign in and transact on the platform.
The financial instrument used for trading is your invoice / set of invoices (or bill of exchange). The platform captures all necessary details of the invoice in a digital format, which converts it into a factoring unit.
It refers to an invoice / set of invoices (or bill of exchange) that has been uploaded on the platform in a digital format.
The factoring unit(s) has to be accepted on the platform by buyers.
The FU details are shared with registered financiers for bidding.
Yes the minimum amount of creation of factoring unit is INR 50,000 (Fifty thousand only).
Zuron shall conduct random audits to confirm the authenticity and genuineness of transactions involving the sale of goods and services.
Zuron does not offer any guaranteed settlement and does not take any settlement risk. It is a platform which facilitates factoring / reverse factoring transactions.
You may incur the following costs associated with factoring / reverse factoring on Zuron:
The interest cost levied by the financier, to be borne by buyer or seller, as the case may be
The transaction charges levied by Zuron, borne by the party which bears the interest as well as the financier
Zuron shall debit the financier’s account for net value (post deduction of the financier’s charges) and credit MSME seller’s account on on ‘T+1’/ ‘T+2’ day (‘T’ is the Bid Acceptance day) through NPCI
Zuron shall send the payment information to the buyer on successful credit in seller’s account
Zuron shall debit the buyer’s account for the invoice value and credit financier’s account on the due date
For the purpose of automatic settlement, Zuron shall obtain NACH mandates from both buyers and financiers.