Waiting to get paid. This can take up to 90 days and SMEs get into trouble because of it. Why? They have to cough up the money to run their own business. And if they fail to do so they are forced to get credit from the bank, perhaps reduce their growth and even shut down their business entirely. Madness. But this is not all; large suppliers lose money due to the increased prices asked by small suppliers in order to keep their heads above water.
Instant money
Tradeshift’s solution to this large-scale problem: Instant Payments. It’s a service which allows suppliers to get paid immediately once a customer accepts an invoice on the Tradeshift system, instead of having to wait for their money. The developers at Tradeshift can explain it better than we can, so here goes:
Naughty Tradeshift
Instant Payments is currently being beta tested in England and Denmark and is slated to be available in the U.S. in the fall. And now back to the question we started this article off with; can Instant Payments disrupt the banking industry? Tradeshift likes to position itself as the troublemaker on the e-invoicing field. And they truly manage to uphold this image with Instant Payments, because the service can be called disruptive at the least.
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