Many organizations in the world have been trying to speed up payments in international trade. TradeCard is one such organization.

TradeCard is based in the United States. It facilitates trade transactions from the initial purchase right through to settlement. The key differentiating factor between TradeCard and other such organizations is that it allows companies to take the entire supply chain process online, that is, they can initiate, conduct and settle transactions completely online. It automates the processes from procurement through payment. For example, all the purchase orders and invoices of buyers and sellers can be created in electronic format.

Corporate Financing Managers can gain access to TradeCard's suite of integrated financial products that reduce working capital and capture payment discounts, while TradeCard's compliance scorecards and chargeback management tools help procurement chiefs to optimize supplier performance. Suppliers also benefit from automation, as they gain more predictable payments and new sources of financing.

Since the documents are in electronic format, it is much easier to compare them and identify any discrepancies. Further, these discrepancies can be resolved quickly as notices can be sent by email. All communication happens through email. As and when the transaction is accepted by the system, the system sends an e-mail notice to the buyer, requesting the buyer to send the money.

The TradeCard solution eliminates time-consuming and error-prone manual processes by aligning the documentation, financial requirements of the transaction and the physical movement of goods. Through this system, it becomes much easier for the sellers to receive payment and also provides substantial negotiating power to buyers for getting a more favorable price.

The sellers have to pay a fees for these services, typically $100. However, the benefits and savings from the efficiencies, weight much more than the fees involved.

Other companies offering the similar services are TradeBeam, CCEWeb and UPS Capital.