UPS to use blockchain-powered platform to improve e-commerce for merchants

One of the world’s largest postal companies, UPS, has partnered with Inxeption to release a blockchain-powered platform to improve e-commerce processes for merchants.

Inxeption is an e-commerce technology company. The company’s new blockchain- powered platform is being dubbed ‘Inxeption Zippy’, according to the press release.

Inxeption’s e-commerce platform and online catalogue will reportedly enable manufacturers, distributors, and wholesalers to effortlessly establish a company-branded site to conduct e-commerce transactions.

Inxeption can then aid companies in listing, marketing, and selling their products to business customers.

The blockchain-backed technology helps maintain the integrity of sensitive information such as contract-specific pricing and negotiated rates, which are only shared between the buyer and seller.

The press release details how the partnership with UPS will enable seamless, end-to-end experience where merchants can view their entire supply chain from product listing to delivery.

Merchants will now be able to receive competitive UPS global shipping, tracking, and logistics services with a suite of sales and supply chain management capabilities. These include:

• Building a website 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

Kevin Warren, CMO at UPS, commented: “The growth of e-commerce is driving B2B (business-to-business) buyers to expect the same fast and convenient shopping experiences that customers enjoy.

“Working with Inxeption is another way we’re creating innovative solutions that helps small businesses deliver quality service for their customers to succeed in e-commerce.”

Market research company Forrester has projected the B2B e-commerce market will reach $1.8 trillion by 2023, and yet B2B merchants have been slow to adopt online commerce.

This is the market UPS and Inxeption intend to capitalise on with the introduction of Inxeption Zippy.

Farzad Dibachi, CEO of Inxeption, stated: “We’re revolutionising B2B e-commerce and bringing companies and their customers together online in a trusted manner.

“This relationship creates simplified pricing solutions for B2B merchants with limited digital marketing and IT resources to easily manage all aspects of selling and shipping from one place.”

Interested in reading more about global businesses who are trialling blockchain technology? Discover how Ford Motor Company will be using IBM’s blockchain technology to trace its supply chain.