MOUNTAIN VIEW, Calif. & COLOGNE, Germany--(Traxpay, the business-to-business (B2B) real-time payments company, has extended the company’s innovative financial transaction platform to B2B digital marketplaces. The Traxpay platform and its payment application have been selected by European-based Restposten and Debitos digital marketplaces to streamline the electronic commerce and data exchange process through instant payment processing, settlement, and reconciliation. Using the Traxpay platform, B2B digital marketplaces can offer their business customers the option to easily and instantly settle financial transactions after an electronic purchase. In turn, B2B digital marketplaces are able to provide frictionless and secure trading 24x7, thereby driving differentiation and increasing revenues.)--
“Our goal is to provide the right infrastructure to deliver efficient, real-time transactions for our corporate customers”
On the Resposten platform, Traxpay is now a premier payment method that enables registered participants of the international wholesale site Restposten.de to conduct transactions amongst each other.
“Traxpay enables an instant real-time payment capability, allowing our customers to immediately settle financial transactions with the click of a button,” said Stefan Grimm, head of sales, Restposten, a leading B2B Internet marketplace for wholesale, overstocks and consumer goods. “Through a payment via Traxpay, buyers benefit by sending funds without transaction limitations in seconds to the seller. Sellers benefit through safe transactions that cannot be cancelled, such as credit cards or other payment methods can, by the buyer. And, due to the low transaction costs of Traxpay, no unnecessary costs are generated by the payment system, making it ideal for wholesale businesses where low margins and high trading volumes are standard.”
Debitos is the first auction-based online platform that allows companies to actively trade their accounts receivable. Traxpay now enables the immediate payment between companies trading receivables payable in the future, trading of bad accounts receivable as well as non-performing loans.
“Our goal is to provide the right infrastructure to deliver efficient, real-time transactions for our corporate customers,” says Hajo Engelke, managing director at Debitos. “We want to help our customers have access to exactly the amount of working capital that they need at the conditions they need it at. As a result, time is of the essence. With its real-time financial engine, Traxpay allows us to offer our customers the highest level of control over their payments.”
Today’s announcement extends the value of the Traxpay real-time transaction platform into large-scale commercial networks, such as Restposten and Debitos and their combined network of over 30,000 trading partners. These digital B2B marketplaces now have access to the Traxpay platform and an enterprise-level capability without the need for IT investment or enterprise infrastructure. This builds on the company’s initial deployment in the European market, which historically has been a first-mover in the area of digital financial solutions.
New Payment Process Enables Real-time B2B Payments
Just as ecommerce marketplaces such as Ebay and Amazon have changed the way consumers shop and pay for goods, digital marketplaces aimed at B2B exchanges have emerged, spurring a need for similar change.
“Payments represent a significant portion of the B2B financial transactions in which companies engage today, yet electronic payment options have not been optimized for the complexities of B2B markets, such as ERP integration, multiple invoice reconciliation, etc.,” said John Bruggeman, CEO, Traxpay. “By providing our real-time transaction platform to these two marketplaces, Restposten and Debitos customers can eliminate payment delays and have more control and visibility over their capital – all key benefits that the Traxpay solution delivers to our enterprise customers. Bringing this level of infrastructure to digital marketplaces is a big step for Traxpay, but a huge step for B2B eCommerce.”
Under terms of the agreements with the respective companies, Restposten and Debitos B2B customers can now make real-time payments for goods, a function enabled by the Traxpay real-time transaction platform. Because the customer’s order is paid for – and funds transferred and received – instantly, the order can be immediately processed providing greater efficiency for both the buyer and seller.
Traxpay is redefining the B2B payment landscape with an enterprise-level solution that sends and receives corporate payments in real time. Enabling companies to safely and securely manage their B2B payments online, Traxpay gives its customers unparalleled visibility and control of their working capital. Traxpay is privately held and is headquartered in Mountain View, Calif. with R&D operations in Cologne, Germany.