Mountain View, California / Frankfurt, Germany – Traxpay, a pioneer in business-to-business (B2B) real-time financial transactions, today announced that Traxpay Conditional Payments has been implemented as the recommended payment method on the newly launched B2B digital marketplace grosshandel.eu. By offering this leading-edge payments service on their new premium trading platform for high-end products, GKS Handelssysteme GmbH can provide their over 30.000 members in 93 countries worldwide with accelerated sourcing, risk reduction, and the unique opportunity to profit tremendously through safer, faster, and smarter trade. Traxpay Conditional Payments, a patent-pending extension of the Traxpay real-time B2B financial transactions platform, provides both buyers and sellers with simple, efficient and secure commercial transactions at a fraction of the cost of other methods.
With over 15 years of experience in commercial e-commerce, GKS Handelssysteme GmbH set out to design their new wholesale marketplace grosshandel.eu with state-of-the-art functionality to address three key requirements of a modern digital platform: transparency, efficiency and inspiration. In addition to providing their online traders with advanced features such as responsive design, optimization for mobile users, intuitive navigation and dynamic search, a central goal was to ensure that transaction execution and payment was simple, safe for buyers and suppliers, and fast.
Powered by Traxpay, even first-time traders on grosshandel.eu are able to execute payments in under two seconds and complete an entire wholesale transaction in under ten seconds. Business can be now conducted from anywhere and anytime, 24/7, and with complete security and transparency for all parties involved in a transaction. Using Traxpay, commercial traders are no longer at the mercy of traditional electronic payment methods that carry significant risks for fraud and losses, are expensive, and only operate during bank hours – usually taking up to five days or more to simply transfer funds.
“It’s amazing that despite the enormous growth potential in the B2B E-Commerce sector, traditional payment providers have not adapted to this trend and are still stuck in the middle ages.” said Stefan Grimm, Chief Executive Sales & Product Management at GKS. “Traxpay’s solutions were built from the ground up for the needs of modern commercial trade and offer instant, easy, safe financial transactions, including rich data attachments, compliance with all industry payment formats and regulatory standards, direct API integration to existing workflows and more – functionality which provides us and our network with important USPs and a significant competitive advantage in the market. We are banking on Traxpay’s solutions to provide us with a unique opportunity to actively participate in the change process taking place in B2B business today.”
In addition to the many advantages provided by Traxpay, GKS’s customers also benefit from 100% secure trade through Traxpay Conditional Payments. With this SAP-certified platform application, Traxpay acts as a trusted third-party and collects, holds, and disburses funds according to buyer and seller instructions. This enables buyers to receive and inspect the goods they’ve ordered before releasing payment, making sourcing secure and worry-free. For sellers, it means higher conversion rates, and improved customer satisfaction. Sellers also benefit from accelerated payment, certainty of payment, and the peace of mind that product can be shipped immediately upon order without risk of payment fraud, delays, or losses. Trading partners are able to communicate with one another directly on the platform to negotiate terms or quickly settle any questions or disputes in real-time. Moreover, by eliminating the #1 problem in B2B E-Commerce, Traxpay empowers companies with the confidence to do business online even with unfamiliar trading partners. All funds are held securely in Traxpay’s dedicated Conditional Payments account, and are more highly safeguarded than they could be by any bank.
“After years of trading on other E-Commerce platforms with unpredictable results, I am impressed by the many business-enabling features that grosshandel.eu provides.” said Thorsten Pätsch, owner of Uhrengroßhandel Pätsch, a German wholesale importer of watches and costume jewelry. “In my business as an importer, speed is paramount and, unfortunately, fraud is rampant. Using the Traxpay Conditional Payments service, I no longer have to worry when sourcing from or selling to new partners or customers. Payment is assured and immediate, and I now have the ability to offer my customers faster trading and the security of 100% buyer protection which, for me, means higher turnover and continued expansion.”
Traxpay provides the world’s first and only B2B financial transactions platform capable of executing payments and final settlement in real-time, anytime, anywhere, and with complete safety and security. Traxpay customers include digital marketplaces, corporations, and settlement networks who value the security, speed, and savings the platform, and its many features, provide. Traxpay solutions were built to address the needs of modern B2B commerce and accelerate business across the supply chain. The company is privately held and is headquartered in Mountain View, California, with operations in Frankfurt and Cologne, Germany.
Traxpay Media Contact:
Sandra Iris Eilenstein
ITPR Information-Travels Public Relations
T. +49 (89) 89 86 87 20