Indian Bazaar Expo Launches US B2B Marketplace
Today in B2B payments, digital payments are helping to accelerate the speed of goods movement and Paystand is launching its first business expense card with cryptocurrency rewards. Additionally, YoKart is launching a B2B platform and slow payments are a major challenge for one in four travel and tourism companies.
B2B payments firm Paystand unveils crypto card
Paystand has launched what it calls the “first business spend card with native crypto rewards,” the California-based B2B payments company said in a Wednesday, March 30, press release.
The DeFi Corporate Card offers instant virtual and physical card provisioning, advanced spending controls, real-time spending reports, and bitcoin rewards. The card allows businesses to earn bitcoin rewards with every purchase, rather than requiring them to go back and redeem their earned points.
Instead, users can make purchases as they usually would and automatically earn bitcoins without changing their workflows.
Indian Expo Bazaar Launches B2B Marketplace in USA
Expo Bazaar, a subsidiary of India Expo Mart, is set to launch in the United States following its Wednesday (March 30) debut at the IHGF fair in Delhi, India Education Diary reported.
The B2B market offers selected products to independent retailers, “for the first time, these specialty and designer stores have access to the wealth of crafts, gifts and home décor products available in India.”
Developed by veterans of the gift and homeware industries in the United States and India, the marketplace will provide access to tens of thousands of products from hundreds of resources on its website www.expobazaar.com, according to a statement. company press releases.
24% of travel and tourism CFOs say slow payments are a major challenge
The majority of travel and tourism finance executives rate their company’s payment operations as only “somewhat” efficient, and one in 10 say their systems are inefficient. According to the Smart Receivables Playbook, a collaboration between PYMNTS and Flywire, only a quarter say they are satisfied with their current approaches.
PYMNTS research has identified five key augmented reality issues facing businesses in the travel and tourism industries. Topping the list is an insufficient ability to handle customer payment questions, with 32% of finance leaders citing this as a problem.
These leaders also say it’s too complicated to manage relationships with multiple vendors (a problem cited by 26%), that it takes too long to bring new features to market (24%), that it takes too long to receive payments (24%) and that real-time access to sales and transaction data is difficult (23%).
DimeTyd launches cash, reconciliation app for Amazon merchants
E-commerce accounting and reconciliation provider DimeTyd has expanded its platform to include automation and machine learning, the Dallas-based company announced on Wednesday (March 30).
The logic-based online engine that offers Amazon sellers a way to recoup lost profits has introduced the availability of a cash app and reconciliation tip.
The automation and machine learning feature was developed to help online product sellers navigate Amazon’s marketplace, verify invoices, and certify that payments are applied correctly and on time to each ledger. and to ensure the correct positions of customer accounts with Amazon.
Indian YoKart launches B2B e-commerce platform
Indian e-commerce marketplace builder YoKart on Wednesday (March 30) launched YoKart B2B, a new B2B marketplace software tool, according to a company press release.
The marketplace offers manufacturers, distributors, wholesalers, and service providers “a centralized platform to connect with other organizations/businesses and conduct trades, creating a streamlined transaction process,” according to the release.
It also offers tools for sellers who offer logo design and custom packaging. The services are typically sold as an add-on with products in bulk, but can be sold separately, the statement said. YoKart has also introduced Verification Tag, Founding Member Tag and Gold Membership Tag for sellers. These tags can be checked and activated on the front-end.
Digital payments accelerate the movement of goods
In addition to supply chain disruptions, another issue delaying deliveries is cargo waiting up to three days, awaiting traditional payment methods at a time when it could be released the same day with payments. digital.
With imports, the delay is often due to ancillary charges, such as import service charges or terminal fees at ports that must be paid in advance before getting the cargo. Traditionally, they are paid by check or bank transfer – or even cash or prepaid vouchers, if the cargo arrives by air.
These slower payment methods are particularly problematic for intermediaries who promise to get goods to their customers’ warehouses on time. If they don’t deliver, they will lose the amount they indicated. Payments by check and bank transfer also pose problems on the export side, with the difficulty of reconciling when it was invoiced and when it was paid.