B2B Payments

Wholesale E-Commerce Reaches New Level

The wholesale e-commerce website TopTenWholesale recently announced that since January, its number of consumer products listed by sellers has increased from under 600,000 to more than 1.1 million.

The company’s vice president of sales, Justin Prescott, explained to Internet Retailer that TopTenWholesale also has approximately 1 million registered buyers. The organization was founded in 2005 by JP Communications Inc., which also operates a site called operates Manufacturer.com. According to Prescott, Manufacturer.com caters more to companies that buy and sell industrial materials used in manufacturing.

Ward Chen, CEO of Sunglass manufacturer and wholesaler GotShades.com is a sunglass manufacturer and wholesaler, and CEO Ward Chen told Internet Retailer that by using TopTenWholesale, his company has placed over 1,000 styles of sunglasses on its profile page.

“It has proven to be our leading source of traffic and new leads. After spending the last few years building our B2B site, it’s a nice relief to have partners like TopTenWholesale.com drive resellers directly to our product shopping carts and sign-up pages.”

Wholesale is becoming more popular. Just last month, the popular e-commerce site Etsy launched a wholesale version. After a year of being in beta, Etsy Wholesale can offer sellers an opportunity to grow their business and connect sellers with independent boutiques in the U.S. and abroad.

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Social distancing has changed eCommerce from a ‘want to have’ to a ‘must have’ for businesses, yet retailers could struggle to create convenient payment and refund experiences for their apps and websites, says Abdul Raof Latiff, head of DBS Bank’s digital institutional banking group. In the April 2020 B2B API Tracker, Latiff explains how banks can provide a timely assist via application programming interfaces (APIs) that integrate payments into those eCommerce platforms.

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