1 Basket-Multi-Vendor technology

1 Basket-Multi-Vendor technology

This new feature to the growing list of MIPS payment technology has really become the new darling and is affectionately know as 1BMV.

Market place platforms carry so many pain points, that even the banks think twice before allowing businesses with this type of business model to acquire an account with them.

Typical Pain Points: 🤕🤕🤕

  • Market Place:
    • Heavy creditors payable accounts.
    • Staggering amounts of reconciliation and end of month payments.
    • Ever increasing non-money making tasks.
  • Vendor:
    • Has to wait for payment cycle (30 – 60 days).
    • Runs the risk of the marketplace defaulting.

…Enter 1BMV😇

1BMV technology allows a marketplace to route payments from one shopping trolley, with multiple products bought from multiple vendors to each individual vendor in real time.

Therefore marketplaces

  • NO LONGER build a book of debt
  • can FOCUS on marketing and selling
  • REDUCE administrative non-money making activites

and Vendors

  • NO longer have to worry about cash flow.
  • TAKE on the risk of marketplace defaulting.

It is so satisfying when technology brings about a solution that makes everyone smile. Even the bank 😅

If you are interested in this functionality contact@mips.mu

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