United States– JiffyStock: an emerging global B2B wholesale marketplace has recently started accepting cryptocurrencies for payments on their platform. All the businesses on the platform can now use cryptocurrency to purchase and sell wholesale goods and services.
The wholesale e-commerce marketplace created by USA Solution Creators Technology is known in the space for bringing the latest technologies and unexplored solutions to B2B wholesale industry. Cryptocurrency happens to be another one on the list.
“There hasn’t been much innovation in the wholesale e-commerce industry lately. We believe that fusing the latest technologies and intelligent solutions into the wholesale distribution industry can transform the way trading is done globally”, said Rami Altawara, the CEO of USASCT (the company behind JiffyStock). “Cryptocurrency is one of our first steps because it is a revolution in the way payments are made. Our buyers won’t have to pay huge transaction fees that a traditional banking system would charge. The process is fast and secure”, he added further.
How Do Crypto Payments Benefit Wholesale Businesses?
Major B2B wholesale marketplaces in the industry don’t yet support any unconventional methods of payment. In B2B wholesale business, managing payments is one of the biggest headaches and many businesses suffer from issues like payments getting stuck, cheques bouncing off or issues in LOC procedures, etc. Making payment process faster with minimal transaction fees (around 0.001% or less) through cryptocurrency is something every wholesale business would want and that is not just it.
Although cryptocurrency is in a strong bear market right now, there are still many holders that see it as a stable way of making payments. Even people who are skeptical about crypto can use it to make payments in their B2B wholesale business. If some businesses don’t wish to use keep and hold crypto, they can still transfer or receive payments in stable coins and withdraw them to their bank without any loss in value. They can benefit from the fast and secure transactions that crypto blockchain provides.
The Future of JiffyStock
When asked what future the CEO Rami Altawara sees for JiffyStock, he said: “We would be hopefully building our own blockchain to host our marketplace where everything will be decentralized and fast. We want to tell our customer businesses that our platform can not go offline or be taken down like other marketplaces that are hosted on conventional hosting severs” It shows that he firmly believes in the future of decentralized marketplaces and the use of blockchain to build secure and fast sites. He also added further that “Launching blockchain would also allow us to take the decentralized payments one step further”. Whatever they are headed towards, Jiffy Stock’s development would be an interesting sight to see nonetheless.
Crypto payments aren’t the only differentiating factor in Jiffy Stock and other B2B wholesale marketplaces. It is a relatively new marketplace and that gives it an edge over other marketplaces. Instead of sticking to an old design, slow speed, difficult to use interface, and outdated technology like older wholesale e-commerce platforms, JiffyStock has eliminated all the problems and jumped straight to the good parts. Being relatively new means that it is designed with the latest technologies to enhance customer experience, improve speed, and include all the necessary tools that a customer company might need to build its online wholesale business.
How Does JiffyStock Work?
So how does JiffyStoock’s customer base or all B2B wholesale businesses for reference benefit from crypto payments? Jiffy Stock is a multi-vendor wholesale platform that allows different types of businesses involved in wholesale trading to cross collaborate. In simpler words, buyers, product manufacturers, wholesale distributors, shipping companies, goods inspection services, and customs clearance can all sign-up and offer their services on the platform. The cross-collaboration of different businesses makes JiffyStock a great platform to build your B2B wholesale brand.
This cross-collaboration of business will be helpful in a platform that offers various types of business models to wholesale businesses such as stocks, liquidation auctions and on-order customized goods, etc. Businesses interested in selling their leftover stock, offering season clearance, or refunded B2C products can find a buyer on Jiffy Stock. They can also organize an auction for their stock and other items they want to liquidate. If none of these, manufacturers can list their service and get orders for custom manufacturing. All these business models make JiffyStock a center point for many interesting B2B wholesale businesses.
Judging from the outlook of their business model, it makes sense why they have launched crypto payments. Not only there is a huge target audience, but also a wide variety of businesses would be interested in getting fast and secure payments without any transaction fee deduction.
For more information about JiffyStock’s business model and services, check JiffyStock’s catalog.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.