PRODUCT

Experience a New Level of Security in Trade Payments

WALBING Track & Pay (TnP) is the world’s first fully digital B2B payment solution that replaces letters of credit. TnP automates trade payments by establishing a link between the shipment’s progress and payment terms.

In partnership with

Letter of credit for the digital age

Bid farewell to the cumbersome letter of credit procedures. Powered by IoT technology, TnP reports the location and physical parameters of your shipment en route and triggers B2B payments once all delivery conditions are fulfilled.

IoT Trackers

TnP's IoT trackers measure and
transmit real-time data
about the shipment progress
and conditions, without
human intervention.

Parameters

Beyond the geolocation,
TnP trackers can measure
temperature,
atmospheric pressure,
humidity, and shock on
the shipment unit level.

LEAP App

The LEAP App by Lufthansa
Industry Solutions assigns
TnP trackers to the shipment
units and activates tracking.

Shipping

The TnP IoT trackers can be
used on various modes
of transportation,
including roads, rail, sea,
waterways, and air.

Payment

Rather than just guaranteeing
payment, TnP triggers a payout
to the seller upon the goods'
arrival and fulfillment of
other TnP conditions.

How it works

1.
Define TnP payment terms​

Parties define the TnP payment trigger, such as goods' geolocation and physical parameters

2.
We secure your payment

WALBING secures the buyer's payment on an escrow account until the TnP conditions are fulfilled

3.
IoT trackers​ are dispatched

The shipper receives the IoT trackers. Once activated via the LEAP App, the devices transfer shipment data

4.
Goods are tracked in real time​

The geolocation and other parameters are measured and reported to the WALBING platform

5.
Seller receives payout

Once the TnP conditions are fulfilled, our system automatically triggers a payout to the seller

1.
Define TnP payment terms​

Parties define the TnP payment trigger, such as goods' geolocation and physical parameters

2.
We secure your payment

WALBING secures the buyer's payment on an escrow account until the TnP conditions are fulfilled

3.
IoT trackers​ are dispatched

The shipper receives the IoT trackers. Once activated via the LEAP App, the devices transfer shipment data

4.
Goods are tracked in real time​

The geolocation and other parameters are measured and reported to the WALBING platform

5.
Seller receives payout

Once the TnP conditions are fulfilled, our system automatically triggers a payout to the seller

Boost efficiency of your trade transactions

Get payout
instead of a guarantee

By securing the cash before shipment, Track & Pay offers greater confidence than a letter of credit that only guarantees payment

Sell faster and
reinvest in growth

Track & Pay is completely unbureaucratic and saves you valuable time and effort so you can focus on your business priorities

Build a network of
trusted customers

Track & Pay helps you build a trusted trade network with our thorough KYC and AML checks and full transaction history on our platform

Empowered by strong partnership

Ready to Track & Pay?

Conditions

  • SET-UP DURATION:
  • COST:
  • PAYMENT SECURITY:
  • SET-UP EFFORT:
  • PAYMENT TRIGGER:

Track & Pay

  • 1 - 2 days
  • 0.8%
  • Pre-paid to escrow account
  • KYC & AML checks only
  • Real-time goods tracking

Letter of credit

  • 3 - 4 weeks
  • 1 - 5%
  • Conditional guarantee only
  • Full credit process
  • Paper documents

TnP vs Letter of Credit

Set-up duration:

TnP: 1 – 2 days

LoC: 3 – 4 weeks

cost:

TnP: 0.8%

LoC: 1 – 5%

payment security:

TnP: Pre-paid to escrow account

LoC: Conditional guarantee only

set-up effort:

TnP: KYC and AML checks only

LoC: Full credit procedure

payment trigger:

TnP: Real-time goods tracking

LoC: pPaper documents

Conditions

Set-up duration:

cost:

payment security:

set-up effort:

payment trigger:

Track & Pay

1 – 2 days

0.8%

Pre-paid to escrow account

KYC and AML checks only

Real-time goods tracking

Letter of credit

3 – 4 weeks

1 – 5%

Conditional guarantee only

Full credit process

Paper documents

Read the WALumnist blog

Talk to our Team!

Fill in the form below to learn more about WALBING’s liquidity and payment solutions. Our Sales team will be in touch to answer all your questions.

Talk to our Team!

Fill in the form below to learn more about WALBING’s liquidity and payment solutions. Our Customer Success team will be in touch to answer all your questions.

Sprechen Sie uns an!

Füllen Sie das Formular aus, um mehr über WALBINGs Liquiditäts- und Zahlungsprodukte sowie unsere Embedded-Finance-Lösungen zu erfahren. Unser Sales-Team wird sich mit Ihnen umgehend in Verbindung setzen, um alle Ihre Fragen zu beantworten.

Sprechen Sie uns an!

Füllen Sie das Formular aus, um mehr über WALBINGs Liquiditäts- und Zahlungsprodukte sowie unsere Embedded-Finance-Lösungen zu erfahren. Unser Sales-Team wird sich mit Ihnen umgehend in Verbindung setzen, um alle Ihre Fragen zu beantworten.