Tazapay has launched Escrow-as-a-Service in partnership with eight global business-to-business (B2B) marketplaces to further ease and enable international trade, with over 20 platforms ready for activation in the coming weeks.
Tazapay, which holds funds securely in escrow until shipments are verified, is operationalizing trust for marketplaces by helping them provide services to their users in areas where they’ve typically been underserved.
By integrating its full-stack payments solution with leading global B2B marketplaces, Tazapay allows businesses to break up large payments for each step of the transaction. Marketplaces can customize this feature to suit their users’ needs, and with Tazapay, can offer global payment coverage via multiple currencies and payment options.
“Our new marketplace partners serve a critical role as the first stop for SMEs looking to purchase either large quantities of certain items or highly specialized goods, and we know how much they value the ability to find these products and begin discussions with trading partners,” said Rahul Shinghal, CEO, Tazapay. “Completing large B2B transactions can become complex across borders, and we’re pleased to integrate a solution into these platforms that not only makes verification and payment easier, but that also automatically builds trust between businesses and between platforms and their users. We’re glad to help remove these pain points so that our partners can maintain their focus on serving and growing their customer base.
“We’ve built a community of organizations coming together to propel their business operations, yet we’ve long been aware of the complexities of international trade – everything from naming the terms of a deal to verifying paperwork to making payments in multiple currencies,” said Raihan Ali, COO of OneAgrix. “Tazapay is the ideal solution to help our users streamline this last piece of the trading puzzle and the simple integration means that they can easily stay in the platform environment they’re familiar with to perform any necessary background checks and easily make and receive payments. We’re sure that our continued partnership with Tazapay will help us in turn grow our own foothold with our current and prospective users.”
Akshay Wadhwa, CEO of Bluerickshaw, adds: “Our target customers are small to midsize businesses across the world and they face two key obstacles – establishing trust and the high costs associated with export transactions. We are excited to partner with Tazapay who are perfectly aligned with our vision of addressing both problems by offering small businesses credit, reducing overall transaction costs and providing a trusted, secure payment solution.”
