Payment delivery within due dates promote efficiency among businesses. The inability to possess this property is a deficiency mostly seen in small and mid-sized businesses (SMBs), causing:
Inefficient cash-flow
Slow processing of orders, delivery and invoices
Poor user-experience among customers
Inadequate credit facilities
SMBs may lose potential clients due to lack of adequate resources to run an efficient payment, security and trust among business entities, even the banks fail to provide loans to start-ups due to the fear and skepticism that they will fail to pay back.
InstaSupply is an ecosystem aimed at managing the financial affairs of buyers and suppliers of online businesses, creating efficiency in purchase orders, invoice and delivery, and ward off financial risks among businesses. Founded in 2014 with over 2000 enterprises currently using the platform, InstaSupply is set to solve the credit problems among businesses such as: payment process and late payment; through the use of a crypto asset (PayBlok). With InstaSupply, businesses can keep track of their payment, store their assets in a secured wallet, and as well receive tokens.
With InstaSupply, businesses can place their orders along with their own terms, get receipts when orders are delivered, the necessary payments are made to the supplier, record the transaction, and receive an incentive in the form of cryptocurrency (PayBlok) which is used to gain other benefits of the platform.
The Benefits of Having the PayBlok Token
The Integrated Payment Solution
This is an automated procurement cycle in InstaSupply that works according to the terms and agreement between two exchanges. This automatically triggers the release of funds to a supplier once the buyer or contractor approves an invoice, or withholds the funds if rejected or does not match with the invoice. Through this, unlimited workflow is provided to users, they can trade as much contracts and payments as they want, risks and insecurity is reduced to zero.
Supply Chain Financial
Token holders are provided with the benefits of being able to receive funds, invoices and delivery, and discount rates for payments, within a short period of time. This creates a conducive environment for the finances of suppliers and SMBs without governmental interventions.
Asset-Based Lending
This is set to refund loans that are not being repaid. In order to release the funds to a lender, the investor convert at least 60% of the required loan value to PayBlok tokens as a guarantee collateral. A low interest rate of 1% is charged for this, and is used to cover the loan if market fluctuation sets in. therefore, businesses do not have to sell their assets if the price of their token drops more than the one initially.
More and More Incentives!
There are other reward systems in which users and businesses can receive PayBlok tokens, when using the InstaSupply platform:
- Once an invoice is approved, the payer will receive 0.5% of the total value of the invoice.
- When an invoice is successfully paid early and the whole transaction is completed before the invoice due date, both buyer and supplier will receive the PayBlok token.
- When a new business is introduced to the platform, the referrer will receive tokens for 1% of all payments the new business processes during the first 6 months.
Conclusion
Using PayBlok, InstaSupply is determined to erase fear, uncertainty and doubt, in business. Therefore, with PayBlok, SMBs can also have the ability to process payment transactions on time, keep to the terms and conditions between customers, gain access to loans, create efficiency between two exchanges, and also receive crypto tokens while performing their business activities.
You can read more here:
Website: https://www.instasupply.com/
Whitepaper: https://assets.ctfassets.net/5vuk877t9hxd/3NAfrZaazmEk6emsaikqiW/87fb62e129789d978720d85d56c49e0e/payblok_whitepaper.pdf
By Frankremmy