Breaking News
Will B2B Marketplaces Become the Banks of the Future?
trustshare and Two have teamed up to help B2B marketplaces become the new financial centres of the digital economy – by offering all the financial services their customers need at the point of sale.
In the next two years, 80% of transactions between business buyers and suppliers will be made online – so the time is right for a shift like this, which means businesses using marketplaces can access the same kind of banking services previously only accessible to large corporates.
This includes everything from trade finance to credit insurance. And in fact, trustshare can now instantly open credit lines in checkout up to $/€/£ 250,000 for business buyers on B2B marketplaces in 12 countries across North America and Europe – a first for global fintech.
“This is a gamechanger for SMEs in particular,” comments Nick Fulton, Co-Founder and CEO of trustshare. “They’re a segment who have historically been underserved by the big banks who struggle to service them as they’re so diverse. Marketplaces, however, have this industry context and, with the growing influence of open banking, can close the loop to service this market.”
“The opportunity for marketplaces is huge – McKinsey predicts that 70 percent of digital commerce will be through a marketplace by 2025. And so far, only a small portion of this global $110bn opportunity has been unlocked by a handful of platforms. trustshare and Two’s new partnership is looking to change this by bringing the entire fintech ecosystem to a B2B marketplace’s fingertips across payments, escrow, banking and trade finance.”
“We’re excited to partner with trustshare”, says Enrique Elias, Head of Expansion, Two. “B2B marketplaces are redefining how businesses transact. With our joint solution, Two makes it easy for businesses to purchase with interest-free trade credit – removing manual, lengthy and painful processes for both business buyers and sellers.”
- EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’ Read more
- FreedomPay Drives Global Merchant Innovation Read more
- FIS Brings AI-Powered Advancements to Seamless, Personalized Digital Banking Experiences Read more
- Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure Read more
- Nearly Two-Thirds of Global Retailers Say Payment Method Flexibility Drives Revenue Growth, ACI Worldwide Survey Finds Read more