B2B Payments

New B2B eMarketplace Begins Rollout

Mobile operators group GSMA has begun the rollout of its new mobile-focused B2B online marketplace, and the venture has seemingly already caught on among industry players. The GSMA announced last week that 1,300 companies have already signed on to participate in the eCommerce platform.

The new marketplace, known as GSMA Marketplace, is designed to tailor to buyers and suppliers in the telecoms market, and aims to offer services beyond third-party procurement aid. “Whether you are a buyer looking for greater innovation or better prices in your procurement of products or services, or a seller seeking to win new business and enter new markets, the GSMA Marketplace will let you browse, contact and connect with companies who can help you achieve your objectives,” GSMA CEO John Hoffman said in a statement.

The platform will facilitate product and service research for buyers and provide communication services between suppliers and potential clients. The service, GSMA said, reduces the time and money spent by suppliers on marketing and product promotion, and by buyers on product research and outreach.

In addition to suppliers being able to establish a digital storefront, they can also upload their entire product catalogues and respond to instant Request for Proposals. Buyers can browse products for free, while suppliers pay an annual subscription of $1,500, the GSMA said.

While the marketplace will roll out in phases, the group said it has already nabbed 1,300 companies to participate on the platform. The GSMA Marketplace will first accommodate product research and discovery, and allow buyers and suppliers to contact each other. According to reports, the growth and development of the platform will then depend on user feedback but may include features like seller accreditation and the completion of purchase transactions on the site itself.

By developing the platform based on user feedback, GSMA has prioritized its members’ needs for digital procurement. “Our members asked us to set up the GSMA Marketplace and as an industry association we are in a unique position to attract buyers and sellers in telecoms from all over the world,” Hoffman said. “We are focused on establishing it as the premier online destination to do business in the future.”

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