TReDS Registration Fees: RXIL vs M1xchange vs Invoicemart

RXIL Registration Fees

RXIL's own FAQ page states that all participants intending to register on its platform must pay a one-time, non-refundable registration fee, plus an annual fee due by the 30th of April each year. Neither figure is stated as a rupee amount on the public FAQ. Separately, RXIL's GeM seller benefits page offers free registration exclusively to sellers who register using its GeM referral code, with only a nominal one-time stamp duty payable as part of the financing agreement. That promotional exemption doesn't establish what a non-GeM seller pays; RXIL's standard registration fee amount is not publicly disclosed.

On the discount side, RXIL's published auction range runs roughly 8% to 16% per annum, set by competitive bidding among its financier network rather than a fixed platform rate card.

M1xchange Registration Fees

M1xchange is the one platform of the three that discloses a specific figure on its official FAQ page: "the standard charges for registering as supplier are ₹5,000, plus applicable GST and stamp duty." M1xchange has also run promotional fee waivers in the past, including a registration fee waiver for MSMEs through September 2020, so it's worth checking the current FAQ or contacting the platform directly in case a similar promotion is active before assuming the standard charge applies.

M1xchange's published discount range runs roughly 8% to 18% per annum, again set by competitive financier bidding rather than a fixed rate.

Invoicemart Registration Fees

Invoicemart's public FAQ confirms that registration involves submitting an application, KYC documents, a one-time master agreement, and the Udyam registration certificate, but doesn't state a registration fee amount. A 2019 interview with Invoicemart's then-MD and CEO confirmed that MSMEs "are required to pay the registration fee" before they can upload invoices, without naming a figure. As of this page's last verification, Invoicemart's exact registration fee is not publicly disclosed.

Invoicemart's published discount range runs roughly 8% to 18% per annum, consistent with the other two platforms and set by financier bidding.

Other Costs to Consider

Stamp duty is a documented one-time cost tied to the onboarding agreement on at least RXIL and M1xchange. Some secondary sources cite a general TReDS "annual platform fee" of ₹5,000 to ₹30,500 and transaction charges of 0.25% to 0.30% of invoice value, but these figures aren't attributed to a specific platform in any primary source we could verify, so we're flagging them here as unverified rather than including them in the comparison table above. Multi-platform sellers should also budget for registering separately on each TReDS platform their different buyers use, since a single registration doesn't carry over.

Short Verdict

Registration fees aren't the deciding factor between RXIL, M1xchange, and Invoicemart, because two of the three don't publish an amount and the one disclosed figure (M1xchange's ₹5,000) is small relative to what a seller pays in discount cost over even one financed invoice. The decision that actually matters is which platform your buyer is already registered on; discount rates across all three are similar auction-based ranges, so buyer coverage, not platform fees, should drive the choice. Where a buyer is registered on more than one platform, comparing live bids on that specific invoice is more useful than comparing published rate ranges.