Proxtera Protect, powered by Tazapay, has brought together two important global trade value chain entities to provide a holistic, streamlined cross-border trade solution to organizations, primarily SMEs. Proxtera takes care of connecting buyers and sellers on a single unified platform, and Tazapay enables smooth & secure cross-border payments and overseas payments through its escrow services. Integrating these two solutions into a single platform will ease the global trade process for both buyers and sellers. By adding the payments leg to the networking platform the user journey is now complete without any hassle.
Proxtera Protect, powered by Tazapay, acts as a unified interface for both buyers and sellers. In the past, trading partners have been unable to connect and build trust with each other due to limited verification options, resulting in several failed deals – putting both the buyers and sellers at a disadvantage.
While Proxtera fulfils the responsibility of bringing together buyers and sellers on a single platform where they can connect depending on the requirement and services provided by the parties involved, the trust factor and monetary security were still missing to conclude the transaction. Buyers and Sellers were able to identify the right entities to trade with but were unsure about the financial transaction due to the lack of security involved in cross-border wire transfers.
Here is where Tazapay steps in, capitalizing on its secure payment offering, which includes a digital background check of the parties involved and the Escrow fund that dispatches the money only once the services are rendered. Proxtera Protect also protects both the buyer and seller by ensuring that the money is returned to the seller if shipments do not arrive.
The purpose of this unison is to solve long-term problems faced by small and medium enterprises and thus preventing them from doing business with more trading partners due to the lack of security and trust when it comes to shipments and payments. On the one hand, they find the trading partner but are unsure of the safety of the financial transaction involved. On the other hand, they may be aware of a secure financial provider they have worked with in the past but may not have access to tools enabling them to work with a wider network of business partners and enhance business growth.
Now on a single platform, they can use Proxtera ’s offering to identify new trade partners, connect with them, and take it forward through discussions, negotiation, and finalising terms. When the SME decides to conduct transactions on the platform, Tazapay’s escrow solution helps secure the cross-border financial transaction, providing security and confidence. The mutually beneficial partnership between Tazapay and Proxtera ensures deterrence of loss of time and resources for all the parties involved in the trade.
A little about the entities that came together
Proxtera is a B2B networking platform that offers a network of business-to-business marketplaces to small-medium enterprises to facilitate cross-border trade for them.
Tazapay is a digital escrow service provider that ensures secure and safe cross-border trade.
The idea is to empower SMEs by providing a unified platform for global trade, which eventually elevates the local economy. SMEs are growth accelerators and play a vital role in fuelling the economy’s progress. But they need a little assistance & handholding when competing with the giants in the same industry and achieving their true potential.