We’ve been busy at Traxpay. Working with two leading B2B digital marketplaces in Europe, we’ve now extended our real-time financial transactions platform to their combined 30,000+ trading partners. Our announcement today of the Restposten and Debitos marketplaces adopting our platform highlights the tremendous demand for commercial networks and supply chains to have real-time transactions and payments.
While electronic commerce gives the impression of immediacy and finality for a given transaction – in reality the transaction is not actually complete until the funds are received. When a transaction occurs between a buyer and a seller on any marketplace site, the seller can’t be sure that the transaction is complete until they actually receive the payment. In fact, sellers take tremendous risk in these transactions. From unexpected or hidden fees due to intermediaries, to delays in credit card or standard electronic payment processing methods, to processors putting holds on funds that can last from two weeks to six months to eternity, to potential for chargebacks, to credit holds, and the list goes on.
An instant settlement—or real-time payment enabled by Traxpay—streamlines the transaction process and eliminates lag and inefficiency allowing business partners to trade directly with each other – without intermediaries. Orders get shipped immediately, which makes both the buyer and seller happy. And the bonus? Buyers and sellers can easily use our instant transaction platform without the need for expensive infrastructure, plus the low transaction costs make this attractive to companies large and small.
Instant payments, full transparency and control, lower transaction costs and no infrastructure investment needed? We like how this adds up and trust that the 30,000+ companies will too.