B2B Payments

Chinese Payments Player Launches Logistics eMarketplace

China-based Fincera provides both financing and eCommerce-as-a-Service tools for the transportation industry in the country. The firm released its latest quarterly earnings figures on Thursday (Jan. 28) and introduced a new feature of its services focused on the logistics industry.

In an announcement, Fincera stated that its small business lending platform, CeraVest, experienced “steady growth” during Q4 2015. The unit provides short-term financing for members of the transportation and automotive industries.

Fincera also operates a payments unit, CeraPay, a platform through which its corporate clients can make electronic payments and through which Fincera can issue credit advances. By the end of Q4 2015, CeraPay had 32,000 individual and merchant users, the company said.

During the quarter, Fincera introduced new features to both units of the company. For instance, corporate users of CeraPay can use the portal to issue direct deposit funds into the accounts of employees.

“We believe the continued growth and interest in our CeraVest and CeraPay products demonstrate the significant need for affordable, accessible financing in China’s transportation industry,” stated Fincera Chairman and CEO Yong Hui Li.

The period saw changes in other ways. Fincera noted that, during this time, it began implementing plans to shift away from traditional truck leasing to focus on its digital activities.

In the latest effort of this online push, Fincera also announced Thursday the rollout of TruShip Logistics, an online marketplace feature for its eCommerce platform, TruShip, that allows players in China’s trucking industry to both post and search for shipping jobs in the nation. Payment transactions on this platform are completed through CeraPay, the firm noted.

TruShip conducted nearly $58 million worth of deals in Q4, Fincera stated.

In his statement, Li added that the company is “very pleased with the initial positive reception” of TruShip and TruShip Logistics.

[bctt tweet=”TruShip allows the long-haul trucking industry to make the most of its resources.”]

“TruShip now allows parties in the long-haul trucking industry to make the most of their resources by connecting truck operators with those who need product transported,” the CEO said of TruShip Logistics, which, he added, “fills a gap for immediacy and efficiency within the sector.”

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