UPS adopts blockchain to boost ecommerce
April 2, 2019
Blockchain technology from California-based Inxeption is helping UPS customers set up, sell and ship products online. The two companies announced a platform integration called Inxeption Zippy that helps businesses market and distribute their products on multiple online channels, from one secure place.
Inxeption’s ecommerce platform and online product catalogue let manufacturers, distributors and wholesalers easily set up a company-branded online site to conduct ecommerce transactions. Inxeption then helps them list, market and sell their products to their business customers.
Its blockchain-backed technology helps ensure that sensitive information such as contract-specific pricing and negotiated rates are only shared between the buyer and seller.
The integration of UPS as the shipper of choice creates a seamless, end-to-end experience where merchants can view their entire supply chain from product listing to delivery. Merchants can receive UPS global shipping, tracking and logistics services with a suite of sales and supply-chain management capabilities for:
- Building a web page and uploading product information
- Scheduling orders and shipments, and monitoring returns
- Managing purchase orders, bulk orders and multimodal shipments
- Processing transactions by credit card, purchase orders or financing
- Conducting search engine marketing
- Reviewing sales and marketing analytics
B2B ecommerce is evolving fast, with Forrester projecting the market to reach $1.8tn by 2023, yet B2B merchants have been slow to adopt online commerce. Most B2B products are still sold through direct sales, third-party distribution or both.
By integrating technology with global logistics, UPS and Inxeption are turning more B2B merchants into digital sellers and equipping them to drive online sales and grow their top line revenue. In turn, their customers can order and receive their products with shipping from UPS.
“We’re revolutionising B2B ecommerce and bringing companies and their customers together online in a trusted manner,” said Farzad Dibachi, CEO of Inxeption. “This relationship creates simplified pricing for B2B merchants with limited digital marketing and IT resources to easily manage all aspects of selling and shipping from one secure place.”