Supplier risk mitigation is key for any B2B trade deal, especially as these transactions grow across borders into uncharted territory with unfamiliar business partners. Online B2B eCommerce site DHgate.com is looking to ease anxieties of international trade by launching a trust and safety department.
The Chinese platform revealed Friday (March 11) that its trust and safety department is now operational with new features for the site that were first introduced last year. The company expects to roll out additional services to enhance buyer trust on the site this year, too.
Last year, the company rolled out a number of anti-fraud tools, including a product identification system, verification methods and transaction risk management. The company also launched the DHgate Merchant Rating System.
This year will be the “Year of Trust and Safety,” the company said in its announcement.
It’s a multinational effort that sees DHgate working with businesses in the U.S., Australia, Switzerland and China to integrate additional anti-fraud, security and risk management tools for its B2B buyers.
These include logistics insurance, product inspections, upgrades to the Merchant Rating System, penalties for false shipping numbers and fines related to order splitting, among others.
In addition to procurement and buyer security, DHgate has introduced other tools aimed at the corporate users of its marketplace.
Last year, the firm announced that it would allow B2B buyers to use MasterPass, the MasterCard digital wallet, with its platform to ease payment for cross-border deals.
In its most recent announcement, DHgate said that it is China’s largest B2B online marketplace, serving about 10 million business buyers among 230 different countries.