CheMondis, the leading marketplace for chemicals in Europe, has partnered with trustshare, an escrow infrastructure for online B2B marketplaces. CheMondis will offer all buyers and suppliers a simple, fast and cost-efficient way to pay while ensuring maximal protection for both parties.
The platform helps buyers and suppliers to establish new business relationships, it automates order flows for existing business relationships and it provides profound data insights for market participants to improve their business efficiency. The platform has now made the next step to facilitate digital trade: the launch of online payment and escrow services for their users.
The new feature is enabled by a partnership with trustshare, an escrow infrastructure developed primarily for B2B marketplaces like CheMondis. It allows buyers and suppliers to choose a safe way of payment directly embedded into the platform. Next to the mere transfer of funds, this payment service includes an escrow option, which adds extra security and trust to the network. The buyer pays in advance; yet funds are only released after successful and satisfactory shipment and delivery.
Sebastian Brenner, Managing Director of CheMondis, said: “CheMondis’ Payment Services aim at further growing the trust between buyers and suppliers of chemicals during their negotiations on our marketplace. We believe that Payment Services will help in connecting, innovating, and digitalizing the chemical industry.”
trustshare, CheMondis’ partner for this service, provides a solution where buyers can checkout into a dedicated account for their order on the marketplace. The supplier can see the payment has been made, so it is safe to ship the products. Once the order is fulfilled, the buyer releases the funds to the supplier for payout. This process is superior to traditional pay on invoice and payment in advance services in speed, transparency, security and costs.
Through this partnership, CheMondis is further strengthening its position as the leading European marketplace for chemical products. Along with its partners, CheMondis is continuing to shape the digital future of trade in the chemical industry.
