B2B marketplace, IndiaMART, and payment platform, Tazapay, have entered into a partnership to facilitate cross-border transactions for exporters in India. The partnership will help exporters have a customized seamless payment solution for B2B trades. Currently, merchants not only need to navigate complex negotiations with payment service providers, but they even have limited options when it involves making and accepting payments on the world stage.
The partnership between IndiaMART and Tazapay will help the B2B exporters get coverage in key economic markets like South-East Asia, the USA, the UK, the EU, and lots of more. On top of offering local payment methods like local bank transfers, credit cards, and QR code payments – almost like UPI – for buyers and sellers alike, merchants are visiting be ready to address international clients reasonably a region while enjoying competitive platform fees, and then the best FX rates.
The partnership will confirm that each one transactions meet international trade compliance requirements, including the issuance of Foreign Inwards Remittance Advice (FIRA) where required. The association between IndiaMART and Tazapay bodes well for exporters of products based in India and exporters of services. The partnership with Tazapay also further strengthens the worth proposition offered by the IndiaMART Verified Export Services (IVE).
IndiaMART launched the IVE service in 2020 enabling its merchants to expand their business across the world by tapping into the pool of over 10 million foreign buyers monthly coming from over 100 countries. We’ve around 50,000 sellers on our platform who are export-oriented. So, we sought for a partner with a customer-friendly memoir which might handle cross-border payments seamlessly.
Now, these exporters registered on our marketplace are able to make and track payments for his or her export business,” said Dinesh Agarwal, Founder & CEO, of IndiaMART. IndiaMART is an end-to-end solution for businesses to attach with buyers and sellers online, with 75 million monthly visitors to the net site and carrying over 97000 product verticals. Tazapay may be a payment platform that has escrow as a service, specializing in providing security for high-value transactions, processing millions in transactional volume per month, and covering quite 173 countries worldwide.
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