Tag: Proxtera

Singapore – B2B marketplace Proxtera together with the Monetary Authority of Singapore (MAS), International Finance Corporation (IFC), and the United Nations Development Programme (UNDP), has launched an open financial education and action programme for MSMEs in Asia and Africa, which will be called, the ‘SME Financial Empowerment (SFE)’ programme.

The programme is a digital portal operated by Proxtera that aims to help MSMEs build foundational digital financial literacy skills, and gain a good understanding of cross-border financial services relevant to MSMEs, to help them thrive in the post-pandemic digital economy. It was rolled out last 14 June 2022 with market partners in Asia and Africa, starting with Ghana, India, the Philippines, and Singapore, and will benefit more than 400,000 MSMEs across both regions.

In addition, the SFE programme will be covering three key areas as a focus for 2022, namely Essential Financial Digital Skillset, MSME Financial Services, and Digital Economy Access & Growth. It will also be providing two certification courses that were developed in collaboration with UNDP, IFC, MAS, Singapore University of Social Sciences (SUSS) and the Global FinTech Institute (GFI), namely Foundational Financial Literacy and Global Financial Literacy.

Saurav Bhattacharyya, Proxtera’s CEO, commented that they are proud to be the exclusive lead partner of the programme, and running the programme office that ideates, manages, and implements the rollout. 

“The SFE programme stays true to our mission of supporting MSMEs, by upskilling them to understand financial services and how best to tap into the digital marketplace effectively and globally. SFE provides that first step for individuals to embark on a journey of digital transformation, where their understanding and digital competencies mature over time, and they become part of an integrated ecosystem that allows them to truly trade business-sans-borders,” said Bhattacharyya.

Singapore – In its bid to make its client Asian SMEs reach a global network, business-to-business (B2B) marketplace Proxtera has announced that it will be joining Ariba Network, a global digital business network owned by technology company SAP.

Through the network endeavor, Proxtera will now be part of one collaborative, intelligent, global business network with access to new demand channels to grow its business in an increasingly digital and networked economy.

This recent endeavor by Proxtera aligns with the company’s goals to connect over 350,000 SMEs to new trading partners across a growing list of countries in Asia including Singapore, Malaysia, Indonesia, Philippines, and India. With each trade, Proxtera envisions to offer a host of integrated digital tools and services that helps marketplaces, platforms and SMEs more quickly, access, evaluate and act on business opportunities.

“Proxtera’s mission is to enable SMEs around the world to thrive in the new normal of the digital economy and access new trade opportunities previously thought out of reach. Proxtera aims to help SMEs as they recover from the impact of the pandemic and to bring us one step closer to an open, more collaborative future where businesses of all sizes, including SMEs, have great trade opportunities afforded to them as a traditional corporate ecosystem,” said Lim Kang Song, chairman at Proxtera.

Meanwhile, Paul Marriott, president at SAP Asia Pacific Japan, commented, “It’s clear that no business does business alone. This is part of our broader vision to reimagine how businesses, including SMEs, can collaborate with a network of global trading partners across supply chains, economies, and industries, and empower companies to move faster and smarter than ever before.”

As part of its network endeavor, Proxtera is currently developing Proxtera Plus for its network of 350,000 businesses and SMEs. Proxtera Plus aims to provide a smooth search, product match, and transaction experience for large buying organizations with a deep and diverse range of buyers and sellers from wholesale e-commerce platforms across Asia via Proxtera’s trade network of marketplaces, for example, Eezee, GlobalLinker, SGeBiz, and Sourcesage 99SME B2B. 

In addition, it also aims to help with compliance of purchases against internal corporate policies and enable quick digital approvals. Proxtera Plus is intended to make closing purchases accessible, supported with secure payment rails and integrated fulfillment options.

Singapore – Business-to-business (B2B) marketplace Proxtera and digital escrow service Tazapay are teaming up in launching a new SME-catered solution called ‘Proxtera Protect, Powered by Tazapay’ to provide international buyers and sellers with a secure and protected payment service to streamline global trade.

Initially available to SMEs in Singapore and India, the new solution allows Tazapay to provide a digital escrow service for both buyers and sellers connected via participating platforms on the Proxtera network. Through the new solution, SMEs will be able to complete transactions through the secure escrow payments service, providing both buyers and sellers with a critical layer of protection and confidence when doing business with a new partner.

‘Proxtera Protect, Powered by Tazapay’ responds to the issue that new trading partners have not been able to meet to build trust, causing an increased number of deals to fall through and lost time and resources on both sides. Tazapay solves this problem by offering secure digital background checks and an escrow service to hold funds until such time that both parties have confirmed delivery and receipt of the goods. Proxtera Protect also ensures that monies are returned should shipments not arrive.

For Rahul Shinghal, CEO of Tazapay, their recent partnership with Proxtera speaks to resolving the ongoing issue among SMEs that are restricted from growing their number of trading partners.

“Proxtera is similarly focused on providing SMEs with options and tools that allow them to work with a wide range of business partners and drive growth. We’re pleased to power Proxtera Protect and grow alongside Proxtera as both entities focus on their missions to elevate the local economy by empowering SMEs with global trade opportunities,” Shinghal stated.

SMEs can join the Proxtera network via its e-commerce platform partners to benefit from new business opportunities. Upon identifying a potential opportunity, they can leverage Proxtera Protect, powered by Tazapay’s market leading infrastructure to finalize the escrow terms and subsequently make and receive payments securely.

Meanwhile, for Shirish Jain, program director at Proxtera, the partnership means aligning also with their mission of unlocking new trade and business opportunities for SMEs around the world. 

“Proxtera Protect, Powered by Tazapay is a critical component to bridge the trust gap that hinders cross-border trade. With the addition of trusted partners such as Tazapay, Proxtera can deliver on its promise to provide SMEs a wealth of business tools and opportunities at their fingertips, opening up pathways to growth and driving economic recovery to help businesses thrive in the ‘New Normal’,” Jain stated.