NEW YORK (Business Wire) March 15, 2001 In an effort to ease cross-border payment services, TradeCard Inc. announced today that it will offer a single platform giving buyers and sellers the ability to track and settle almost any type of domestic or international financial transaction.
The platform suite, offered to e-marketplaces, corporates and financial institutions, is customizable to the types of transactions being used, the transaction prices that are set, and the addition of specific branding options. The platform's users will also have the support of TradeCard's network of partners, who provide transaction assistance services, such as trade financing, credit assurance, money movement, logistics, cargo insurance and inspection.
"By further leveraging our network of partners and our patented technology, we can automate the processing of virtually any payment transaction, whether it is domestic or international, guaranteed or open account, large or small dollar," said Kurt Cavano, chairman and CEO of TradeCard. "Online payment is not a 'one size fits all' business, so we built a platform that provides a wide range of flexibility for the users."
Paperless, payment guaranteed international trade transactions are a difficult and critical element of companies' financial supply chains. And, like supply chains in general, significant accounts payable and receivable improvements can be achieved through integration, such as cash forecasting, real-time transaction management, and receivables and payables reconciliation. TradeCard also offers Auto-Approved Payment, Buyer-Approved Payment and Invoice Presentment for companies wishing to automate additional parts of their international and domestic trade transactions.