The platform is designed to bring supply chain payments, supply chain finance, and blockchain-based early payments together into one unified end-to-end solution, called Tradeshift Pay.
According to Tradeshift, by using the single unified wallet, buyers have options such as virtual card payments of invoices and purchase orders, dynamic discounting, supply chain finance through bank partners, or blockchain-based payments.
Tradeshift has also reported that with a platform that works both on and off blockchain, businesses can allow access to smaller unbanked business and companies to electronic payments and finance. Furthermore, companies can decrease the timeframe for getting paid, from an average of 30-45 days in EU and US down to a couple of days, helping address the USD 9 trillion supply chain liquidity problem. Tradeshift added that Tradeshift Pay is supported by banks and card providers, including HSBC, Santander, and CreditEase.
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