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TradeEnabler Available to More than 100,000 Global
Suppliers and Buyers
PASADENA, CALIFORNIA, U.S.A. -January XX, 2001-BizCurrency, Inc.,
enabler of real-time international business-to-business transactions
and allproducts.com, one of the leading global business-to-business
eCommerce companies headquartered in San Jose, California, have
formed an alliance to bring online global payment solutions for
buyers and sellers globally. The more than 100,000 suppliers and
buyers securing goods through the allproducts.com marketplaces,
will now have the option of initiating, managing and securing online
payments in real-time.
"allproducts.com is a prime example of the kind of
company that we want to partner with," stated Herve Lacorne,
Chief Executive Officer of BizCurrency. "They have established
a substantial presence in Asia with 33 offices and continue to grow
in the West, by bringing an enormous amount of value to their participating
suppliers and buyers to facilitate worldwide trade. Enhancing their
efforts in reducing the amount of time and money required to conduct
business are values we feel secure in delivering."
Participants of B2B marketplaces have traditionally been required
to print invoices and communicate manually or re-key their transaction
information into existing enterprise resource planning or banking
systems. Inevitably, these large-scale offline financial transactions
slow the trade process - which can sometimes take weeks to accomplish.
By utilizing BizCurrency's TradeEnabler and PaymentNexus products,
B2B marketplaces can offer their participants the ability to execute
and accelerate their transactions online and in real-time. TradeEnabler
is designed to facilitate a wide range of import and export trade
finance transactions, including commercial letters of credit, standby
letters of credit, amendments, bills and documentary collections.
PaymentNexus provides straight through processing between B2B marketplaces
and financial institutions, allowing business transactions to be
managed online without having to
re-key information.
"We are committed to continuously improve the breadth and
depth of services to our customers. When we can eliminate duplicate
data, enhance accuracy, reduce cost, accelerate the transaction
process and improve cash flow for our clients, we add substantial
value to our clients business. As BizCurrency helps to create this
value for our clients, it became an easy decision to choose BizCurrency
as a partner," stated Nasir Karamat, Vice President of Business
Development for allproducts.com.
Capturing all of the required information including product specifications,
quantities, shipment specifications and authorization for letters
of credit, the open architecture of the BizCurrency solution allows
for seamless integration into additional business partners in the
value chain, such as insurance, credit, inspection, and logistics
service providers.
About allproducts.com
All Products Online Corporation (www.allproducts.com), headquartered
in San Jose, CA, is one of the leading Global Business-to-Business
eCommerce companies. allproducts.com owns, manages and operates
international and regional B2B marketplaces (regional includes the
Greater China area of China, Hong Kong, Taiwan). Their product and
supplier database has complete product specifications and supplier
data, as well as online transactional services to meet the needs
of buyers and sellers worldwide. For more information, please visit
www.allproducts.com
About BizCurrency
BizCurrency is an accelerator of global B2B3 commerce.
B2B3 commerce is the web-based collaboration infrastructure
and payment solution serving the business-to-business, business-to-bank
and bank-to-bank communities. BizCurrency is empowering financial
institutions and B2B exchanges to meet the growing needs of their
clients by setting the standard for global payments. Enabling real-time
international business-to-business transactions, the BizCurrency
payment network seamlessly integrates financial institutions and
B2B exchanges through a straightforward application service provider
platform. Its web-based applications eliminate labor intensive processing
through a user-friendly infrastructure for letter of credit financing;
equity based multi-currency accounting and foreign exchange trading
services. BizCurrency is based in Pasadena, California. For more
information, please visit www.bizcurrency.com
Contact:
Joe Perry, Vice President of Strategic Development
joe.perry@bizcurrency.com
800.980.9036
Nasir Karamat, Vice President of Business Development
nasirk@allproducts.com
866.BID.N.WIN (866.243.6946)
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