Supply chain payments company Tradeshift has announced the launch of a cloud platform which will bring supply chain payments, supply chain finance, and blockchain-based early payments together into one unified solution.
Dubbed ‘Tradeshift Pay’, the solution will allow users to use a single unified wallet to take advantage of various payment options, including virtual card payments of invoices and purchase orders, dynamic discounting, supply chain finance through bank partners, or blockchain-based payments.
“For the first time, businesses can go to one single wallet to handle all their payments, end-to-end, across all channels. And for the first time, you can do both regular and blockchain-based early payments in one platform in the cloud,” said Christian Lanng, CEO and Co-founder, Tradeshift.
According to the official release, TradeShift Pay is supported by a number major banks and card providers, including HSBC, Santander, and CreditEase. In addition, American Express and Tradeshift Go work together to enable buying and paying on the go.
“With a platform that works both on and off blockchain, businesses can give smaller unbanked business and companies access to electronic payments and finance, anywhere in the world. And companies can get paid much faster-from an average of 30-45 days in EU and US down to a couple of days-helping address the $9 trillion supply chain liquidity problem,” Tradeshift said.
