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March 30, 2022

Transparent launches B2B payment system for confidential transactions

US-based Cryptographic settlement start-up Transparent has launched a new business-to-business (B2B) payment system to facilitate confidential transactions.

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The dynamics of B2B (Business to business) sales have rapidly changed over the last few years, especially during and post covid and will continue to do so. Some prominent shifts include, B2B organizations are switching to digital channels to drive customer engagement, more and more B2B organizations adopting to hybrid sales model and therefore programs such as sales intelligence are gaining traction.   As per recent sales enablement collective 2022 report, 95% of survey respondents have a dedicated  enablement team at their company, and 79% say enablement is a strategic part of their business This paper offers guidance as to what we at GlobalData think are important elements of any sales  intelligence program and KPIs to measure the success of such programs.   The white paper covers:
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Dubbed Xand Alpha, the new system is designed to enable users to protect their identity and transaction details while safeguarding the ‘public auditability’ of the ledger.

The solution leverages a combination of homomorphic encryption schemes as well as zero-knowledge proofs techniques.

Zero-knowledge proofs allow attesting the knowledge of information without disclosing it while homomorphic encryption schemes allow performing math on numbers that are not known.

Transparent said in a statement: “The identities of the transacting parties and the amounts involved are kept private. However, unlike some confidential systems, Xand’s design helps to facilitate compliance.”

Xand Alpha is designed to ensure that users always know counterparties to the transaction they are participating in.

Furthermore, it allows users to offer proof to third parties about the hidden details of transactions. The third-party will be able to verify the details by analysing the shared ledger.

In 2020, Transparent raised $14m in Series A financing to support product development and drive its expansion into other countries.

It followed an $8m financing from Vulcan Capital in July 2018.

Other developments in B2B payment space

Last month, B2B payments firm TreviPay acquired technology firm Baton Financial Services to enhance its technical resources to support the B2B payment space.

The same month, Payments network EMQ launched its multi-currency B2B payment offerings in China in a bid to offer its global enterprise customers direct access to the country’s market.

The same week, the Latin American business-to-business (B2B) payments platform Flexio secured $3m to bolster its offerings to help businesses automate bill payments and invoicing.

Free Whitepaper
img

Sales Intelligence: A Program To Accelerate Sales

The dynamics of B2B (Business to business) sales have rapidly changed over the last few years, especially during and post covid and will continue to do so. Some prominent shifts include, B2B organizations are switching to digital channels to drive customer engagement, more and more B2B organizations adopting to hybrid sales model and therefore programs such as sales intelligence are gaining traction.   As per recent sales enablement collective 2022 report, 95% of survey respondents have a dedicated  enablement team at their company, and 79% say enablement is a strategic part of their business This paper offers guidance as to what we at GlobalData think are important elements of any sales  intelligence program and KPIs to measure the success of such programs.   The white paper covers:
  • Changing B2B sales landscape and new challenges for sales executives
  • Key elements of sales intelligence program
  • How can sales intelligence benefit sales & marketing?
  • What are the must-have KPI’s to measure the success of sales intelligence programs?
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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