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Tradeshift announces Tradeshift Pay, Industry’s First End-to-End Cloud Platform for Supply Chain Payments and Finance, Including Blockchain-Based Financing

Payments leader partners with HSBC, Santander and major banks to attack $9 trillion global commerce problem
May 21, 2018 09:30 AM BST

SAN FRANCISCO, May 21, 2018 – Tradeshift, the leader in supply chain payments and marketplaces, today launched an industry first: becoming the only cloud platform to bring supply chain payments, supply chain finance, and blockchain-based early payments together into one unified end-to-end solution, Tradeshift Pay. With these innovations, Tradeshift takes aim at a $9 trillion problem–namely, the global capital trapped in accounts receivable as a result of archaic payment practices and the digital disconnect between large business buyers and their suppliers.

Tradeshift brings the first end-to-end supply chain payments and finance solution to business commerce with Tradeshift Pay. Using a single unified wallet, buyers can take advantage of a wide range of payment options, including virtual card payments of invoices and purchase orders, dynamic discounting, supply chain finance through bank partners, or blockchain-based payments.

“In an industry where 50% of US payments are check-based and companies around the world struggle to access finance and payments, Tradeshift Pay is a real enabler for the digitally connected economy,” said Christian Lanng, CEO and Co-founder, Tradeshift. “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.”

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.

As the first truly multi-finance solution, Tradeshift Pay is supported by more than a dozen major banks and card providers, including HSBCSantander, and CreditEase.

As the market leader in supply chain payments, including accounts payable automation, e-invoicing, and global tax compliance solutions, Tradeshift brings a history of innovation to the growing B2B payments market, which is expected to reach $2.2 trillion globally by 2020. Tradeshift has already seen massive growth over the last few years in the category of supply chain payments and today processes as much trade as Bitcoin and Ethereum combined.

About Tradeshift

Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com

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Dave Pedersen

Director of Communications

pr@tradeshift.com