B2B Payments

New eMarketplace iVANZi Steps Into B2B

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A new online marketplace, iVANZi.com, operated by Retail Linx, is already expanding into new territory.

The company announced Tuesday (May 2) that it will launch a wholesale marketplace for B2B buyers and suppliers with multiple payment options designed for the wholesale space.

IVANZi verifies both buyers and suppliers on the platform and enables suppliers to upload their inventory for pre-approved wholesale buyers. The platform also supports quotations, transaction and communication.

But the company said its payments capabilities are especially important. IVANZi Wholesale offers multiple payment options on its site, including Joint Sale and Net iVANZi.

The Joint Sale feature enables suppliers to have their products on buyers’ shelves for a 30- or 60-day product cycle, the company explained, automating processes so that buyers pay only for what is sold, and suppliers receive those payments. Retail buyers must pay for shipment of unsold merchandise back to the supplier at the end of a product cycle, the company said.

The Net iVANZi feature provides trade credit to retailers so they can immediately procure goods from sellers on the platform. The buyer can access up to $10,000 in financing to make purchases on iVANZi Wholesale.

“Retail Linx is changing the way retail does business,” said the firm’s Founder and CEO Abdul Thunayan in a statement. “Our mission is to empower independent retailers and small-scale makers by giving them the tools in a challenging retail environment. We want to redefine click-to-brick and connect offline retail with online retail on multiple levels.”

The company added that another one of its solutions, iVANZi POP, will also soon emerge from beta to help retail companies find retail space and storefronts.

“IVANZi POP addresses the biggest concerns facing small and large businesses — increasing overhead costs, inventory management, surging retail expenses and limited opportunity to place merchandise in brick-and-mortar stores,” added Thunayan. “Its services not only benefit smaller shops with little capital, but also big box stores and independent retailers looking to reduce real estate and overhead expenses.”

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