B2B Payments

The World Cup A Boon To B2B Payments

The world cup is a standout event that thrills the hearts of soccer fans around the world. And businesses, particularly those in the B2B space. From garment factories in Bangladesh to gambling platforms in the U.K. enterprises worldwide are finding a way to score with the World Cup

The World Cup, which kicks off on June 12th in San Paulo rightfully will bring a lot of attention to Brazil. How well the nation supports the Cup, how much money the merchants makes, how much real value the nation will take out of the investment and what this portends for the upcoming Summer Olympics in Rio will get the bulk of the attention.

What will get less notice is the spike in international business this year’s cup will bring, and how it will both enrich and stretch the capacities of businesses who exist to make help other businesses do their work.

Soccer In Brazil A Boon To Bangladeshi Garment Makers.

Garment manufacturers in Bangladesh garment manufacturers took in at least $500mn in export orders to sew World Cup jerseys for vendors to pitch to fans across the globe. The lift comes just in time, according to the AFP, as a string a disaster and PR nightmares has recently beset the industry such as the including the Rana Plaza factory collapse in April 2013, which left at least 1,138 people dead.

“Some 100 of our factories got orders to make jerseys for World Cup fans. We don’t have an accurate figure of the total value of the World Cup related merchandise exports. But it will be between $500 and $1,000mn,” Mohammad Hatem, the acting head of the Bangladesh Knitwear Manufacturers, told the source.

Hatem said Bangladesh’s shipments of garments would likely be up $3B in the fiscal year ending this month to $25B.

“A big part of the growth came from the World Cup merchandise,” he said.

Bangladeshi plants supply clothing to the sportswear accros vertical, from athletic ware giants like Puma and Adidas and to the jerseys for all of the World Cup’s 32 teams.

“My factory alone made 250,000 World Cup jerseys for countries like Germany, France, Spain, Belgium, Italy and Portugal,” Hatem noted.

U.K Cup Enthusiasts Can Gamble With Ease

The World Cup, apart from fostering international competition, is also bringing companies together in the spirit of cooperation. Now cooperating to help soccer enthusiasts be rid of unwanted money, Online sports betting company Colossus Bets has announced that global betting exchange operator Betdaq has become its first live UK business-to-business partner.

As a result of the partnership, during the World Cup Betdaq will be able to offer over $168M Colossus prize pools to football fans so intense they need to put money on the line.

“With the £10,000,000 Colossus on offer every few days of the World Cup, our clients can win £10,000,000 on a jackpot every time England plays, so we are greatly looking forward to providing our betting exchange customers with this proposition which is truly unique and groundbreaking for this World Cup and into next season’s Premier League,” Betdaq chief executive officer Lewis Findlay told iGaming Business.

The new partnership also offers as a Colossus bets to offer its patented fractional cash-in feature.

“Fractional cash-in allows players to bank profits on part of a ‘live’ ticket whilst retaining the remaining part of the ticket to play for a corresponding share of the jackpot prize and should become industry standard given the ever increasing popularity of multiples and in-play betting,” explained Bernard Marantelli, founder and chief executive officer of Colossus Bets to the source.

 

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