UPS and Inxeption Transforming B2B E-Commerce with Blockchain Technology
United Parcel Service (UPS), an American multinational delivery and supply chain management firm, has joined forces with Inxeption, a blockchain powered industrial-strength e-commerce platform, to make the selling and shipping of products online easier for B2B merchants, according to a press release on March 21, 2019.
Inxeption Zippy Launched
In a bid to make it easier for business-to-business (B2B) e-commerce merchants to set up, sell and ship products online, leading multinational logistics company UPS has collaborated with Inxeption to launch the Inxeption Zippy platform.
Per the press release, Inxeption Zippy allows businesses to market and distribute their products on numerous online channels from one place securely.
The Inxeption Zippy blockchain-powered solution streamlines all transactions and logistics from one secure dashboard, makes it possible for merchants to manage the selling and shipping aspect of their business from the platform, while also providing customers with a reliable shipping and tracking service from UPS.
How it Works
With Inxeption Zippy, manufacturers, distributors, and wholesalers can seamlessly set up a customized online site where their transactions will be made. Inxeption will now help them to list their products on multiple platforms, market and sell the products. Since Inxeption Zippy is based on DLT, sensitive information such as contract-specific pricing and rates can only be seen by the buyer and the seller.
UPS is the default logistics service on the Inxeption Zippy platform, and B2B merchants can view the entire supply chain from product listing to delivery. Additionally UPS will provide merchants on the platform with highly efficient global shipping, tracking and logistics services and more.
The platform will also provide merchants with highly functional tools for building a webpage and uploading their product details, order scheduling, shipment and monitoring returns, managing purchase orders, bulk orders, and multimodal shipments. Merchants will also be able to process credit card transactions, conduct search engine marketing, review sales, and marketing analytics and more.
Changing the Face of B2B E-Commerce
Commenting on the initiative, chief marketing officer at UPS, Kevin Warren, noted that:
“The growth of e-commerce has motivated B2B market participants to expect the same fast and convenient shopping experiences enjoyed by consumers. Collaborating with Inxeption is another way we’re creating innovative solutions that SMEs deliver quality service to their customers and succeed in e-commerce.”
CEO of Inxeption, Farzad Dibachi also stated that Inxeption is determined to revolutionize the B2B e-commerce ecosystem with blockchain technology, “bringing companies and their clients together in a trusted way. This partnership creates clear pricing solutions for B2B merchants with little digital marketing and IT budget to easily manage their selling and shipping processes from one secure platform.
Earlier in January 2019, BTCManager informed that the private equity arm of UPS, UPS Strategic Enterprise Fund had made an equity investment in Inxeption, to enable the latter create a blockchain-based platform that could facilitate trade between B2B merchants.