Infobank International Holdings PLC today announced that it has become one of the first European e-procurement software vendors to be named by Visa EU as an approved solutions provider. This enables users of Infobank InTrade, the company’s flagship business-to- business e-commerce software suite, to conduct electronic payment transactions through the Visa Purchasing international payment network. It also allows seamless integration between InTrade and users of Visa Purchasing.
The integration of the Visa Purchasing functionality into Infobank InTrade provides large organizations with electronic access to a global network enabling the settlement of transactions and the delivery of data. The combined solution offers a seamless end-to-end electronic process, providing organizations with substantial cost savings in the purchasing and accounts payable areas. By integrating Visa Purchasing with InTrade, Visa is also able to provide enhanced management information, delivered in real-time, allowing corporate clients to make better informed purchasing decisions.
Alain Falys, senior vice president for commercial products at Visa EU, said, “It is critical for the growth of the business-to-business electronic commerce market over the coming years that users are provided with simple payment methods. Through our integration with Infobank’s InTrade product suite, we have taken another step towards opening up the benefits of electronic commerce via the Visa Purchasing network to thousands of businesses throughout the world.”
Graham Sadd, CEO of Infobank said, “We are delighted to have completed this integration and to have secured this endorsement from Visa. Our ability to offer to Infobank InTrade’s corporate customers and suppliers the world’s leading international payment processing service adds significant additional value to our offering and further enhances the international capabilities of the InTrade product suite. This further develops our strategy of integrating with best of breed vendors in all aspects of business to business e-commerce to optimise the efficiency of our customers’ supply chains on an international basis.”
In a separate development, Infobank announced that a leading UK supplier of industrial and commercial supplies and equipment has signed an agreement with BT to use BT SupplyCentre. It is anticipated that the customer will go live on SupplyCentre in the next few weeks.
BT SupplyCentre offers a trading system that removes current inefficiencies from the supply chain and adds new benefits. Using secure Internet technology, both buyers and suppliers operate within an on-screen trading environment accessing current availability and prices on-screen, in real time. In addition, suppliers can electronically update product information, special offers and up-to-the-minute availability, 24 hours a day, seven days a week, for customers anywhere in the world.
As the world’s best way to pay, Visa is the leading payment brand and the largest consumer payment system worldwide with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa has more than 70 smart card programs in 33 countries and on the Internet, with 23 million Visa chip cards, including over 8 million Visa Cash cards. Visa is pioneering SET Secure Electronic Transaction(TM) programs to enable and advance Internet commerce.
There are more than 800 million Visa, Interlink, PLUS and Visa Cash cards, which generate nearly US$1.4 trillion in annual volume. Visa-branded cards are accepted at more than 16 million worldwide locations, including at over 480,000 ATMs in the Visa Global ATM Network. Visa’s Internet address is .
Founded in 1994, Infobank International Holdings PLC is a world leader in the provision of electronic procurement and delivery systems. InTrade(TM) is the company’s flagship e-Commerce suite of integrated e-Procurement software. InTrade is the only business-to-business e-Procurement system that provides multiple currencies, Euro, multiple languages, multiple suppliers and multiple location support across the whole spectrum of the supply chain, from the largest corporate purchasers to the smallest suppliers. Infobank InTrade is based on standard browser technology and is developed on open, non-proprietary technology, which provides organizations with a future-proofed solution for both buyers and suppliers worldwide. The InTrade product suite consists of InTrade e-Hub(TM), InTrade Purchaser and InTrade Supplier.