MOUNTAIN VIEW, Calif. & COLOGNE, Germany--()--Traxpay, the business-to-business (B2B) real-time financial transactions company, has announced two new payments applications on its platform - Traxpay B2B Payments Professional and Traxpay B2B Payments Enterprise. The ability to handle payments in real-time, anywhere, anytime results in dramatic improvements in both cash forecasting and risk control, giving unprecedented visibility into a company’s cash position and the ability to reduce payment exceptions. This electronification of B2B payments enables up to 40% better cash forecasting and 37% fraud control(1) for businesses.
“Traxpay’s ability to execute member to member payments in real-time without transaction fees, and accompanied with essential descriptive data, reflects its user-centric view and addresses the needs of modern businesses.”
Minimizing risk for companies large and small, Traxpay enables customers to safely and securely accelerate and optimize cash flows, liquidity, and working capital with unparalleled visibility and control. Whereas other payment solutions merely set-up or coordinate transaction messages, the Traxpay platform actually executes the payment. Unlike traditional providers who charge significant fees for faster payments, B2B transactions across the Traxpay platform are always free of charge for both the sender and the receiver. Unlike other payments methods that are incapable of supporting data or limit valuable information to 140 characters, Traxpay connects the payment and the information together – whether structured or unstructured and in any multi-media format – enabling faster settlement and reconciliation of payment exceptions. Moreover, transactions made though traditional payment methods generally take 2-5 days before a recipient has access to the funds and even longer for cross border transactions, which slows the entire business cycle. With Traxpay, funds are always transferred in real-time – even after banking hours, on weekends and holidays – and the funds are available immediately.
“Traxpay’s decision to offer the solution in two subscription or membership levels will not only enhance its appeal for smaller businesses, but will also facilitate suppliers’ willingness to join the Traxpay community, thereby increasing the platform’s value to all buyers or payors”, said Patricia McGinnis, Director, Commercial and Enterprise Payments Group at Mercator Advisory Group. “Traxpay’s ability to execute member to member payments in real-time without transaction fees, and accompanied with essential descriptive data, reflects its user-centric view and addresses the needs of modern businesses.”
The Traxpay B2B Payments Professional edition was designed for small to mid-sized companies in need of accelerated and predictable cash flows and makes sending and receiving secure electronic payments in real-time possible, 24/7, while removing risks and costs. Accessible via an easy web access, the Professional edition offers an unlimited number of transactions across the platform at no charge. Traxpay B2B Payments Enterprise edition provides these same advantages to large mid-sized and global organizations looking for simplicity and transparency of financial flows across the supply chain and the ability to better forecast and optimize cash flows, liquidity, and working capital. Enterprise edition integrates directly into existing corporate ERP systems and business workflows, and enables full structured and unstructured data to be attached to a transaction and uniquely connects the people, information, and financial flows together. Payments can now be made instantly, from anywhere and at any time while remaining channel and format-agnostic so companies can do business directly and predictably. The Enterprise edition also provides an unlimited number of transactions across the platform at no charge without any limit on transaction amounts.
Traxpay B2B Payments - Professional
- accessible anytime and anywhere through any web browser
- multi-user access
- four-eyes principle approval enabled
- dispute management and communication platform
- full data attachment and access
- support for multi-format, multi-channel payment types
- unlimited number of transactions
- real-time account statements
- no charge for standard transactions across the platform
Traxpay B2B Payments - Enterprise includes the features above plus:
- seamless integration into ERP systems and workflows
- unlimited number of users
- full data attachment and access (structured and unstructured)
- unlimited transaction amounts
- real-time account statements (structured format or PDF)
“From the very beginning of Traxpay, we were about addressing the gaps in B2B financial transactions and driving innovation in the area of B2B payments,” said John Bruggeman, CEO, Traxpay. “After years of development and collaboration with key partners and customers of every size, our Professional and Enterprise editions of our B2B Payments application have been tailored to provide a better, faster, and smarter way for any business to accelerate commerce in today’s global marketplace.”
Availability
Both the Professional and Enterprise versions of the Traxpay B2B Payments application are available immediately. For additional product information, please contact Traxpay via e-mail at info@traxpay.com.
About Traxpay
Traxpay is redefining the B2B payments landscape with the first professional B2B real-time financial transactions platform capable of handling payments 24/7. Minimizing risk for companies large and small, Traxpay enables customers to safely and securely accelerate and optimize cash flows, liquidity, and working capital with unparalleled visibility and control. Traxpay is privately held and is headquartered in Mountain View, Calif. with R&D operations in Cologne, Germany.
For more information, visit www.traxpay.com or follow us on Twitter @traxpay.
(1) Source: AFP Electronic Payments Report, AFP/JP Morgan, 11/10
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