Business to business payments especially for small and midsized companies and business has a great worth than you may think. Instasupply estimates that about 18.5 trillion was transacted by the small and midsize business in the year 2016 in the USA alone.
However, this mainly relied on credit due to the reason that credit sales were not paid on their due date, therefore, creating the need to seek more credit. This creates the need to look for a solution seeing that even banks have not offered any to the problem with the small business and the midsized business.
Instasupply has therefore offered to solve this problem by creating an early payment function which will be connecting the buyers and matching supplier’s documents to enable the provision of financial aids to the small and midsized business. So how are they going to do this?
Supply chain financing
However, this mainly relied on credit due to the reason that credit sales were not paid on their due date, therefore, creating the need to seek more credit. This creates the need to look for a solution seeing that even banks have not offered any to the problem with the small business and the midsized business.
Instasupply has therefore offered to solve this problem by creating an early payment function which will be connecting the buyers and matching supplier’s documents to enable the provision of financial aids to the small and midsized business. So how are they going to do this?
Supply chain financing
In their platform, Instasupply offers a workflow for review of invoices by the customers. Instasupply boasts of having more than 2000 business and over $60 million worth of invoices passed through their website annually. When customers get the invoices, they are able to review and decide either to accept the invoice or reject it.
Accepting the invoice means that the customers are going to make payments to the invoice which will be made outside the platform and later get recorded on the platform. This creates finances for the small and midsized businesses. The earlier it is done the earlier finances the businesses get.
Payblok token
Accepting the invoice means that the customers are going to make payments to the invoice which will be made outside the platform and later get recorded on the platform. This creates finances for the small and midsized businesses. The earlier it is done the earlier finances the businesses get.
Payblok token
Payblok are the tokens issued by the Intasupply platform. The payblok is a token that allows the user to enjoy all the benefits form the platform. Payblok token will be developed on the ERC20.
This token can be traded without the consent of Instasupply and without any restrictions from the platform. The token will enable Intasupply to be able to diversify the products it will be offering to enable it to solve the problem the small and midsize businesses are facing. Primarily the products will consist of the integrated payment, supply chain financing solution, and the asset-based lending.
Integrated payment solution
This token can be traded without the consent of Instasupply and without any restrictions from the platform. The token will enable Intasupply to be able to diversify the products it will be offering to enable it to solve the problem the small and midsize businesses are facing. Primarily the products will consist of the integrated payment, supply chain financing solution, and the asset-based lending.
Integrated payment solution
The payment solution will be a project that will ensure that the whole procurement cycle goes through the Instasupply platform. This will enhance security and also doing away with the associated risk in data transfer while carrying out the tasks. Automation policies among other regulations will be governing the payments and also ensuring that a low-risk solution is achieved from the whole process.
Asset-based lending
Asset-based lending
With asset lending, the payblok will be used as the collateral. The applicant will be required to have more than 60% value payblok of the loan he requires. When the asset lent is not repaid then the collateral which in this case is the payblok token will be taken by Instasupply. This will create security for both the lenders and the business since the business will not have to sell its assets when there is a market fluctuation and loan repayment becomes a problem.
Supply chain financing
Supply chain financing
Supply chain financing will work with the automatic invoice approvals together with the integrated payment solution. This system provides a fast simple and bureaucracy-free process for financing supply chain operations.
Get to learn more about payblok token and Instasupply by viewing their whitepaper from here- PayBlok whitepaper
Get to learn more about payblok token and Instasupply by viewing their whitepaper from here- PayBlok whitepaper
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