DEV Community

Cover image for B2B E-Commerce Payments Made Easier and Secure with Tazapay Escrow
Katie Leslove
Katie Leslove

Posted on

B2B E-Commerce Payments Made Easier and Secure with Tazapay Escrow

Tazapay is playing a leading role in evolving the B2B E-commerce payments methods. Its Digital Escrow payments platform is especially designed for cross-border B2B trade, making payments seamless for cross border e-commerce platforms and marketplaces.
To further strengthen this space, Tazapay recently partnered with Proxtera. Proxtera is a B2B marketplace that connects businesses with one another to facilitates and simplifies international trade and expands networking opportunities. This partnership provides a holistic platform to small and Medium Enterprises to seamlessly transact with one another.

They can expand their horizon by integrating seamlessly with the platform to find partners and expand their business opportunities. Once they recognize a potential opportunity, they can capitalize on the partnership to conclude the escrow terms and eventually make and receive payments, making it one of the most secure b2b e-commerce payment methods.

Benefits of Tazapay’s Digital escrow service explicitly intended for international B2B e-commerce trade

  • This platform enables payments monetization on your e-commerce platform
  • Ensures compliance in accordance with both local as well as international regulatory environment
  • Provides a growth opportunity for your customers by ensuring that they can trade better and sell more the seamless B2B escrow offering
  • Allows you to gain your customers trust since you are partnering with a Singapore based financial provider that works within the MAS jurisdiction

Tazapay’s Escrow is one of the most reliable & simplified b2b e-commerce payment methods

Tazapay’s Escrow is quite easy and reliable which is why it is one of the more chosen B2B e-commerce payment methods. It assists in eliminating complexities by simplifying B2B trade processes and digitizing all the manual procedures.

Their focus on making the b2b e-commerce payment method more streamlined & uncomplicated right from

  • formalizing the trade agreement between the buyer and seller,
  • to offering payment methods that are both global and locally accepted,
  • to securely holding funds to releasing payments
  • to resolving any disputes that arise

How do they achieve this?

1. Digitization - Tazapay’s platform digitizes POs (Purchase orders) and the entire sales terms before the other party can accept it.
2. Global payment support - It supports international and local payment options to ensure that cost is brough down and business is settled quickly.
3. Funds’ protection - It securely holds the Escrow funds that are protected by the leading banks as per the MAS compliance.
4. Ensuring Regulatory compliance - Tazapay takes on the responsibility for the regulatory and compliance overheads, freeing the traders of one more responsibility.
5. Funds Disbursal - Finally, they release the payment once they have vetted the contractual obligations.
6. Customization - These payment release milestones can be set as per your business requirements.
7. Operational competence - Tazapay also possesses the operational capability to perform document authentication such as KYC, KYB, confirmation of shipment documents and B2B dispute resolution.

How does Tazapay’s Escrow payment work?

Native Escrow
Native Escrow is suggested for e-commerce companies and platforms that possess the technological ability to build UX to provide a fully branded experience to the customer. E-commerce platforms that plan to fully or partially verify documents, resolve disputes and ensure complete regulatory compliance can opt for Native Escrow for their b2b e-commerce payment methods.

  • This version brings the entire personalised escrow payments skill to your website or e-commerce platform. Since it comes with end-to-end API integration, you have the full freedom to create transactions which can be managed by both you and the user on your website.
  • This tailor-made solution gives real time visibility and status updates of each transaction while having control over the entire customer journey.

Hosted Escrow
This is preferred for e-commerce platforms and marketplaces where the sales order / Purchase Order is already being generated on that site. If you want a low integration site without too many redundant steps for your customers this is recommended for you. This version enables Dispute resolution and document verification.

  • With a single API call, Hosted escrow safeguards Escrow Deals that populate on your website making it a simple way to integrate Escrow in to your e-commerce platform. Since the order is already created on your platform, hosted escrow enables the payment completion within a few simple steps post that.
  • This is a buyer friendly workflow that can be easily integrated to your existing platform with a single API integration. You can monitor and reconcile payments on a dashboard that gives you an end-to-end transaction record.

Escrow Referral Links
This is recommended for e-commerce websites and platforms that want an easy and effortless b2b e-commerce payment method

  • Referral links are the easiest way to incorporate escrow payments to your e-commerce website, platform or marketplace. Tazapay referral links will be activated on your website, redirecting your buyers to the Tazapay platform to complete the escrow transaction within a few simple steps.
  • This version does not require any API integration and can get started as soon as the referral links are added to the website. The referral will be an additional way to generate revenue instantly and there is a dashboard to monitor and settle payments.

Discussion (0)