Traxpay Highlighted for Delivering Streamlined Customer Experience

Traxpay is happy and honored to have been recognized in a recently published article, “Bridging the Gap: 21 Useful Integrations for Your Fintech Product,” courtesy of Romexsoft. It’s a comprehensive overview of “the best APIs in FinTech” that “deliver seamless and streamlined customer experience.”

A critical and important feature of The Traxpay Dynamic Financing Platform℠ is its ability to harvest detailed invoice information and combine it with data from financing or dynamic discounting activity. This allows partner banks to bring greater value to client relationships they have with their corporates, while improving the overall customer experience.

In their words:

Traxpay is the go-to tool for larger companies that want to handle relationships with the vendors and suppliers more efficiently. The tool will be extremely valuable for businesses in highly regulated niches due to the following two features:

Conditional Payments enable you to set specific parameters for incoming payments (such as invoices) to be contingent upon a certain event e.g. after the validated contract documents were uploaded. This feature will ensure that you will receive the funds only when the set of requirements are met. If you prefer, these conditions can be handled through unreachable blockchain-based contracts.

Augmented Payment Data. If receivables reconciliation is a major problem for your business, you can greatly benefit from this feature. If you are running this ERP plugin to make a cross-border or domestic payment, it will create an enriched ISO 20022 file, which contains comprehensive invoice information and line-item details from the Buyer’s ERP system. This payment file is forwarded to the Buyer’s bank in the appropriate form before the supplier gets paid. The supplier will then receive all the transaction data (which is typically absent) in their preferred format. This will definitely reduce the amount of manual input needed to handle certain B2B payments.