CFS B2B Transactions settlement
The CFS B2B account revolutionises transaction settlements between business establishments.
For manufacturers and Distributors with large retail dealer network, the process of collection of cash on delivery is expensive and is fraught with risks.
The CFS B2B offers a simple solution. The Manufacturer or the Distributor opens a CFS B2B account. The dealers can be encouraged then to open CFS B2B account. The dealer can effect payment online instantly for goods delivered or indeed use the CFS virtual card to pay for the goods to the driver/delivery agent who should be provided with either a Pocket POS or a normal POS. This way no physical cash is exchanged and an instant secure settlement payment is made.
For all other B2B payments, companies can make payments by a simple account to account transfer where both the companies have a CFS One World account or should one of them not have one, the other party is encouraged by the payer to get an account opened to benefit from the instant transfer and with a relatively very small transaction cost.
Trade Escrow
Today we all live in a world economy, but the potential of the global marketplace is hindered by the general lack of efficient financial tools for global trading. It isn't easy to sell to customers on the other side of the world, and despite the speed of global communications, it's complicated for buyers to source products and services away from home.
CFS has been established to make globalisation work - not just for the multinational corporations, but for everyone - especially in the private sector of developing world economies and for individuals involved in peer to peer transactions.
From a simple account payment guarantee by earmarking funds in the buyer's CFS account to full escrow process, CFS goes beyond simple payment system to a comprehensive transaction assurance facility.
This process can replace LCs and all the related expensive paperwork in most cases.
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