B2B Payments

A New B2B Cloud Marketplace

One of the newest B2B e-marketplaces is Chekkt, an Israel-based company that features a portal with 85 customer relationship management applications among some 2,500 cloud or Internet-based software applications from about 2,000 suppliers available to buyers, according to a story in Internet Retailer.

Chekkt was designed for companies that have fewer than 500 employees who are comfortable with running software in the cloud.

“Everyone knows about Salesforce.com and SugarCRM for customer relationship management software, but for other CRM vendors they have to ask a friend and search in a forum,” said CEO Ori Manor, according to the story. “Chekkt features some 85 CRM vendors, including names like Soffront CRM, WalkMe, Crocagile, Olark and Myco Suite. Chekkt lists each of these CRM vendors, and scores of others are listed within other industry categories, with customer ratings and background information about each vendor and its products.”

The service is free for buyers and supplier can get free basic listings, but suppliers are charged somebetween $100-$200/month for listings that display “customer ratings and analytics on customer activity on web pages,” the story reported. “Chekkt has grown in recent months from about 30,000 unique monthly registered users, or companies looking for products to purchase, last summer to about 50,000 this month.”

Chekkt has financial backing from a Tel Aviv company called Valueshine Ventures and is focused on the U.S., Canada and the U.K., thought it has a little bit of traffic from Spain, France, India and Mexico, the story said.

“For now, buyers on Chekkt can click a vendor’s listings for a free trial of its software, and then the buyer and seller make arrangements offline for payment if the former decides to make a purchase. ‘Eventually we will also offer the Buy button on Chekkt,'” Manor said, according to the story.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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