B2B Payments

B2B Payments, With Tokens And Smarts


Blockchain firm Smart Token Chain recently completed its first transaction through the Ripple Network, an event that may have, well, ripples in B2B payments. Tom Meredith, Smart Token Chain’s CEO, and Don Chapman, SVP of business development, weighed in on distributed ledger technology’s potential in cross-border payments and beyond.

Earlier this month, Smart Token Chain, which provides blockchain-based solutions, said it had conducted its first transaction across the Ripple Network. The use of the tokens can boost security and immutable transaction tracking across borders and corporate payments.

In an interview with PYMNTS, Smart Token Chain executives, including CEO Tom Meredith and Don Chapman, senior vice president of business development, said that the emergence of Smart Tokens can cut across any asset, such as oil, gas and gold. That can help streamline pricing and payments for commodities that are used across supply chains.

As Meredith noted, blockchain can be seen as “an interconnected system” that can help alleviate some of the complexity of the treasury and trade (in a B2B focus) functions of a firm. Said Chapman, the Smart Token can allow firms to “integrate and disperse funds globally.”

To that end, said the executives, the Smart Token can be used to manage receivables and payment terms tied to those receivables. The tokens themselves cement sender and receiver identities and invoice data. Chapman stated that the invoice data, in a B2B setting, can be used in trade finance, with a specific “money transfer” token in place to help with the dynamics of discounting, for example.

The tokens that exist across corporate credit, he added, can be used to manage accounts receivable and payable. That’s made possible by real-time delivery of funds through the SWIFT ISO 20022 format.

In addition, said the executives, the layers of security tied to the blockchain establish what can be thought of as closed-loop transactions, and the emergence of mobile payments also allows for biometrics, such as fingerprints, to make sure that identities, transactions and the terms of those transactions are all safeguarded.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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