Traxpay Conditional Payments 2017-11-11T23:16:54+00:00

Conditional Payments

ADDING TRUST TO EVERY TRANSACTION

Conditional Payments

ADDING TRUST TO EVERY TRANSACTION

Trust Issues in Global Trade

Trust Issues in
Global Trade

In our connected world, global trade has not only become much more possible for businesses of all sizes, but also much more critical to success. And yet, as buyers and suppliers seek to take advantage of the opportunity to deal with anyone, anywhere, anytime, an age-old problem remains: TRUST.

Will goods be delivered on time, if at all, and will they match the Supplier’s description? Can Buyers be trusted to pay in full for their order?

Existing solutions — such as Letters of Credit — are a costly and labor intensive option that fail to take advantage of today’s technology. Globally the market for Letters of Credit is worth an estimated $20 trillion. And yet, despite the vast sums of money tied up in Letters of Credit, they are becoming a less and less adequate solution for the demands of today’s business landscape. Despite the advances of the digital age, Letters of Credit still demand significant manual input, and — as well as being expensive and difficult to procure in the first place — can be an ongoing administrative minefield.

In our connected world, global trade has not only become much more possible for businesses of all sizes, but also much more critical to success. And yet, as buyers and suppliers seek to take advantage of the opportunity to deal with anyone, anywhere, anytime, an age-old problem remains: TRUST.

Will goods be delivered on time, if at all, and will they match the Supplier’s description? Can Buyers be trusted to pay in full for their order?

Existing solutions — such as Letters of Credit — are a costly and labor intensive option that fail to take advantage of today’s technology. Globally the market for Letters of Credit is worth an estimated $20 trillion. And yet, despite the vast sums of money tied up in Letters of Credit, they are becoming a less and less adequate solution for the demands of today’s business landscape. Despite the advances of the digital age, Letters of Credit still demand significant manual input, and — as well as being expensive and difficult to procure in the first place — can be an ongoing administrative minefield.

Problems Solved. Costs Saved. Confidence Assured.

Traxpay Conditional Payments helps the Bank to tackle the untouched interfirm market and provides security and trust to smaller trade transactions. Traxpay Conditional Payments are cost effective, transparent and offer great innovative opportunities for Bank-intermediated trade finance. On top of all that, Traxpay Conditional payments are optionally available on Blockchain technology.

Steps in Traxpays Conditional Payments

Problems Solved. Costs Saved. Confidence Assured.

Traxpay Conditional Payments helps the Bank to tackle the untouched interfirm market and provides security and trust to smaller trade transactions. Traxpay Conditional Payments are cost effective, transparent and offer great innovative opportunities for Bank-intermediated trade finance. On top of all that, Traxpay Conditional payments are optionally available on Blockchain technology.

Steps in Traxpays Conditional Payments

Solutions powered by Traxpay

Powerful technologies make Traxpay Conditional Payments a faster, cheaper, and more automated and flexible solution to adapt to every business’s needs. Buyers can cut out the paperwork and bureaucracy, while Suppliers know their funds are ready and waiting to be released.

Pay with peace of mind – Traxpay matches or exceeds the most stringent security requirements from financial regulatory authorities.

Provide full transparency and end-to-end visibility on all steps of transaction for both parties.

Optional arbitration service available, with neutral external auditors resolving any conflicts.

Customize the platform to reflect corporate identity.

With Traxpay Conditional Payments, you have a new, honest and reliable solution. Trust Traxpay Conditional Payments, which combines data with an escrow bank account or bank payment guarantee as a low cost alternative to the Letter of Credit. We are firm believers in collaborating with partners that share our passion for the power of financial technology.

Designed to make trust a built-in part of every Buyer and Supplier relationship, Traxpay Conditional Payments helps businesses achieve their full potential by ensuring every transaction they make is carried out with complete confidence. The service removes the risk of trading with unfamiliar partners, with Traxpay acting as a trusted third party that collects, holds, and disburses funds according to Buyer and Supplier instructions. Buyers can purchase with full confidence, receiving and inspecting orders before releasing payment, while Suppliers can instantly confirm that customers have “good funds.” We facilitate the all-important trust between parties.

Extended by Blockchain

Traxpay embraces new technologies when there is a strong use case that will benefit our partners and customers, and when those technologies can be utilized in a way that meets our stringent standards for quality and security. All Traxpay products can be connected to Blockchain. Traxpay offers a Conditional Payments option extended by Ethereum-based smart contracts. Smart contracts empower Buyers and Suppliers to represent their deals on public or private Blockchains to provide additional auditability and provability that distributed ledger systems unlock. For financial institutions, partnering with Traxpay unleashes a new, future-proof level of service in B2B trade finance.

Work smarter

Smart contracts can eliminate manual intervention in transaction verification. By using self-executing protocols when certain conditions are met, they make reliable machine-to-machine transactions possible.

This advanced level of automation removes the overheads involved in initiating, executing, and enforcing standard contracts. The most remarkable and unique features of our smart contract extension include:

Exclusion of human interaction, Internet of Things capable.

Access to collateral status and monitoring.

All contract conditions set and triggered in smart contract on blockchain.

Digitized transfer of ownership of goods.

Access to pre- and post-inspection information.

More efficient usage of credit facilities.

Full automation for release of liens, insurance or collateral.

More transparency for regulators.

Reduction of potential fraud and corruption.

Solutions powered by Traxpay

Powerful technologies make Traxpay Conditional Payments a faster, cheaper, and more automated and flexible solution to adapt to every business’s needs. Buyers can cut out the paperwork and bureaucracy, while Suppliers know their funds are ready and waiting to be released.

Pay with peace of mind – Traxpay matches or exceeds the most stringent security requirements from financial regulatory authorities.

Provide full transparency and end-to-end visibility on all steps of transaction for both parties.

Optional arbitration service available, with neutral external auditors resolving any conflicts.

Customize the platform to reflect corporate identity.

With Traxpay Conditional Payments, you have a new, honest and reliable solution. Trust Traxpay Conditional Payments, which combines data with an escrow bank account or bank payment guarantee as a low cost alternative to the Letter of Credit. We are firm believers in collaborating with partners that share our passion for the power of financial technology.

Designed to make trust a built-in part of every Buyer and Supplier relationship, Traxpay Conditional Payments helps businesses achieve their full potential by ensuring every transaction they make is carried out with complete confidence. The service removes the risk of trading with unfamiliar partners, with Traxpay acting as a trusted third party that collects, holds, and disburses funds according to Buyer and Supplier instructions. Buyers can purchase with full confidence, receiving and inspecting orders before releasing payment, while Suppliers can instantly confirm that customers have “good funds.” We facilitate the all-important trust between parties.

Extended by Blockchain

Traxpay embraces new technologies when there is a strong use case that will benefit our partners and customers, and when those technologies can be utilized in a way that meets our stringent standards for quality and security. All Traxpay products can be connected to Blockchain. Traxpay offers a Conditional Payments option extended by Ethereum-based smart contracts. Smart contracts empower Buyers and Suppliers to represent their deals on public or private Blockchains to provide additional auditability and provability that distributed ledger systems unlock. For financial institutions, partnering with Traxpay unleashes a new, future-proof level of service in B2B trade finance.

Work smarter

Smart contracts can eliminate manual intervention in transaction verification. By using self-executing protocols when certain conditions are met, they make reliable machine-to-machine transactions possible.

This advanced level of automation removes the overheads involved in initiating, executing, and enforcing standard contracts. The most remarkable and unique features of our smart contract extension include:

Exclusion of human interaction, Internet of Things capable.

Access to collateral status and monitoring.

All contract conditions set and triggered in smart contract on blockchain.

Digitized transfer of ownership of goods.

Access to pre- and post-inspection information.

More efficient usage of credit facilities.

Full automation for release of liens, insurance or collateral.

More transparency for regulators.

Reduction of potential fraud and corruption.

More Features…

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augmented payment data