B2B transactions across the Traxpay platform are free of charge for both the sender and the receiver. The service connects the payment and the information together – whether structured or unstructured and in any multi-media format – enabling faster settlement and reconciliation of payment exceptions. Moreover, funds are always transferred in real-time – even after banking hours, on weekends and holidays – and are available immediately.
The ability to handle payments in real-time results in dramatic improvements in both cash forecasting and risk control, giving visibility into a company’s cash position and the ability to reduce payment exceptions. This electronification of B2B payments enables up to 40% better cash forecasting and 37% fraud control for businesses.
“Traxpay’s decision to offer the solution in two subscription or membership levels will not only enhance its appeal for smaller businesses, but will also facilitate suppliers’ willingness to join the Traxpay community, thereby increasing the platform’s value to all buyers or payors”, said Patricia McGinnis, Director, Commercial and Enterprise Payments Group at Mercator Advisory Group. “Traxpay’s ability to execute member to member payments in real-time without transaction fees, and accompanied with essential descriptive data, reflects its user-centric view and addresses the needs of modern businesses.”
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