Leading-edge payments service.
Traxpay, pioneer in business-to-business (B2B) real-time financial transactions, has announced that Traxpay Conditional Payments has been implemented as the recommended payment method on the B2B digital marketplace grosshandel.eu.
By offering this leading-edge payments service, 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 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.
By eliminating risk, the #1 problem in B2B E-Commerce, Traxpay empowers companies with the confidence to do business online even with unfamiliar trading partners. With Traxpay Conditional Payments, an 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 goods before releasing payment, making sourcing secure and worry-free. For sellers, it means higher conversion rates, improved customer satisfaction, certainty of and accelerated payment, and the ability to ship orders immediately without the risk of fraud, delays, or losses. Trading partners can communicate with one another directly on the platform to negotiate terms or quickly settle any questions or disputes in real-time. Business can be conducted from anywhere and anytime, with complete security and transparency for all parties involved in a transaction. 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.
With over 15 years of experience in commercial e-commerce, GKS Handelssysteme GmbH set out to design their wholesale marketplace grosshandel.eu with state-of-the-art functionality to address key requirements of a modern digital trading platform. A central goal was to ensure that transaction execution and payment was simple, safe for buyers and suppliers, and fast.
“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.” said Stefan Grimm, Chief Executive Sales & Product Management at GKS.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
