KÖHN, Germany — CheMondis has partnered with trustshare, an escrow infrastructure for online B2B marketplaces, to offer customers payment and escrow options for their transactions. The partnership will offer all buyers and suppliers on the B2B marketplace a simple, fast and cost-efficient way to pay while ensuring maximal protection for both parties.

The platform helps buyers and suppliers to establish new business relationships, it automates order flows for existing business relationships and it provides data insights for market participants to improve their business efficiency. It has now made the next step to facilitate digital trade: the launch of online payment and escrow services for users.

The new feature is enabled by a partnership with trustshare, an escrow infrastructure developed primarily for B2B marketplaces like CheMondis. It allows buyers and suppliers to choose a safe way of payment directly embedded into the platform. Next to the transfer of funds, the payment service includes an escrow option, which reportedly adds extra security and trust to the network. The buyer pays in advance; yet funds are only released after successful and satisfactory shipment and delivery.

Sebastian Brenner, Managing Director of CheMondis, said, “CheMondis’ Payment Services aim at further growing the trust between buyers and suppliers of chemicals during their negotiations on our marketplace. We believe that Payment Services will help in connecting, innovating, and digitalizing the chemical industry.”

CheMondis’ partner for this service, trustshare, provides a solution where buyers can checkout into a dedicated account for their order on the marketplace. The supplier can see the payment has been made, so it is safe to ship the products. Once the order is fulfilled, the buyer releases the funds to the supplier for payout. 

Learn more about CheMondis at https://chemondis.com.