GrubMarket has launched a payment platform designed for food wholesalers and distributors.
The new GrubPay platform enables GrubMarket’s customers to directly accept and manage payments via ACH, credit card and other online methods, the company said in a Wednesday (April 26) press release.
“With the addition of GrubPay, customers reduce errors, eliminate check fraud, and get paid faster,” GrubMarket Chief Product Officer Genevieve Wang said in the release.
GrubPay is designed to replace the checks and cash traditionally used in the food supply chain industry, eliminate the fees charged by third-party providers and provide a payments platform that is tailored to the needs of the industry, according to the press release.
The payment platform enables online payments, pay by link and real-time payment tracking. It also features full accounting integration, flexibility and customization, and competitive pricing, according to the press release.
GrubPay can operate as a standalone product or be integrated with GrubMarket’s software ecosystem that includes its WholesaleWare enterprise resource planning (ERP) system, its Orders IO mobile eCommerce solution, and its Farmigo community supported agriculture (CSA) management software, the release said.
“We are proud to take the next step of every great eCommerce company — offering seamless payment solutions to our customers,” GrubMarket CEO Mike Xu said in the release. “GrubPay is a truly transformative solution that will create significant value for the food industry and help customers streamline their payment processes, reduce costs and save time.”
The launch of this platform is one of several efforts to expand the use of digital tools in the food and agriculture industries.
For example, in November 2022, eCommerce company Full Harvest announced it was acquiring FarmersWeb in order to expand the B2B services of its produce marketplace by adding sales and inventory management software.
“Adding valuable software features from the FarmersWeb platform to our produce marketplace will help our farms sell their excess produce easier, more rapidly and more efficiently than ever before,” Full Harvest founder and CEO Christine Moseley said at the time.
In July 2022, DiMuto debuted a B2B eCommerce marketplace connecting AgriFood suppliers, growers and exporters to importers, wholesalers and retailers.
“What we’re doing is like what the Ameritrades and Charles Schwabs of the world did for the financial markets,” DiMuto CEO Gary Loh told PYMNTS in an interview posted in August 2022.
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