XAfricaMart launches B2B marketplace with integrated TradeSafe escrow solution
Online B2B marketplace XAfricaMart.com was launched yesterday in Johannesburg, with its CEO Stephen Oehley claiming that the marketplace has one of the lowest transaction fees in the market for suppliers.
The marketplace which is aimed at small and growing businesses, will offer sellers and customers a secure payment platform that mitigates online trading risks and non-delivery.
Sellers are charged a 1.2% sales success fee. This compares to Amazon which charges a fee of 3.9% for international transactions, eBay which charges a fee of 3.5% or 10% depending on the number of goods listed on the site and Alibaba which charges a 5% fee.
XAfricaMart.com also seeks to network businesses up and down the supply chain. Furthermore, it seeks to connect international exporters, agents, suppliers and distributors.
Payments will be made to a Payment Association of South Africa (Pasa) approved TradeSafe Escrow trust account. After ordering, customers will take delivery, inspect merchandise, accept it online, and payment will immediately be made to the seller.
In a press release yesterday, Oehley said the site would change the face of online business in the country.
“XAfricaMart.com is not only a new B2B marketplace, but it is also a sales and distribution channel on steroids. Sellers registering on the site, receive a number of benefits that usually come at a premium.
“These include automated sales leads, automated invoicing and financial reporting as well as national delivery backup support, free product catalogue displays, the ability to configure packaging and price packs by minimum order quantities,” explained Oehley.
In a subsequent phone interview with Ventureburn, Oehley, mentioned that XAfricaMart.com has been in development for four years, after a realisation that there was gap that needed to be filled by an alternative sales channel that caters for small and growing business. EBay, Amazon and Alibaba all target consumer-to-consumer sales.
Claims Oehley: “No service comes remotely close on the African continent”.