ChemDirect and Balance to Together Offer New Payment Platform
CIOReview
CIOREVIEW >> Payment and Card >>

ChemDirect and Balance to Together Offer New Payment Platform

By CIOReview | Friday, December 17, 2021
Cio Review

Cio Review

ChemPay gives suppliers faster access to earnings and more market prospects, while buyers get better payment and financing choices.

Fremont, CA: Traditional payment methods such as paper checks, money orders, and trade credits are used by many business sellers. For B2B eCommerce businesses, this could be a long process. Merchants can accept credit, debit, and other alternative online payments more easily and quickly using payment platforms. ChemDirect, an online B2B marketplace for on-demand chemicals sent directly from authorized suppliers, has announced a partnership with Balance, a B2B eCommerce payments experience platform, for the immediate launch of ChemPay, a new payment platform for ChemDirect customers.

ChemPay, powered by Balance, provides ChemDirect customers with a faster, more convenient way to buy and sell chemicals, allowing suppliers to be paid in days rather than weeks. ChemPay, unlike standard B2B online payment platforms, allows qualified purchasers to finance their chemical purchases up to net 30 payment terms, allowing suppliers to receive payment as soon as three days after product delivery.

The point-click-and-buy financing features of the new payment platform eliminate the need for offline estimates and invoices, allowing suppliers to avoid long payment delays. ChemDirect customers can also select from a selection of convenient, flexible payment options that aren't widely available online.

“The launch of ChemPay allows us to empower our buyers not only with an enhanced user experience and industry-leading product fulfillment times, accessibility and selection but also financing options to help manage their cash flow,” said Tyler Ellison, ChemDirects founder and CEO. “The new payment platform also helps suppliers open the door to new markets while delivering fast access to pay-outs.”

“Our partnership with ChemDirect is the future of global chemical trade,” said Bar Geron, Balances CEO. “Balances B2B checkout platform, combined with ChemDirects superior discovery platform, enables chemical buyers and sellers to transact seamlessly in a B2C experience.”