Aztec has teamed up with Chile-based Gosocket to launch the payment tool. Through this partnership, Aztec will provide Gosocket’s USD 150 billion annual volume e-invoice network with on demand invoice payment via ePayMe, enabling 92,000 suppliers to log in and quickly monetize outstanding electronic invoices. ePayMe will service Gosocket’s USD 200 million in monthly invoice finance requests with proprietary and institutional investor capital.
ePayMe takes traditional early payment services like factoring and turns it on its head. Typically issuing payment within 24 hours, ePayMe offers complete transparency, so there are no hidden fees, credit checks or interest charges, and suppliers only pay a minimal invoice discount charge. Additionally, a supplier using the ePayMe portal can sell as many outstanding invoices as they choose from approved corporate buyers, and there are no restrictive long-term contracts.
Aztec Exchange launched their early payment service in May 2016 with the Dublin-based firm Celtrino, servicing their network of more than 4,000 suppliers. On October 6, the company launched exclusively with Grupo SERES in Spain. It expects to announce additional partners servicing a global customer base in the months ahead.
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