back Back

Xometry introduces Xometry Pay Invoicing platform, offers financial security with guaranteed payments

By Pavithra R

February 11, 2021

  • USA
  • Xometry Pay
Share

Xometry introduces Xometry Pay Invoicing Platform
Randy Altschuler, Chief Executive Officer at Xometry

Xometry, an on-demand industrial parts marketplace, has announced the launch of Xometry Pay, a new suite of payment products that allows machine shops and custom manufacturers to accept credit cards and offer payment terms quickly for its customers.

Founded in 2013, Xometry is a one-stop-shop for manufacturing on demand. The firm is making the new product suite available to manufacturers currently in the company’s network as well as the broader manufacturing community.

The launch follows the company’s recent release of Advance Card and FastPay, 2 tools that enhance cash flow flexibility. With the new invoicing platform, manufactures can use these service on any job. This includes 30% payment advances at the start of the job, the remaining payment net-30, and accelerated payment options if needed.

“Xometry’s success to date has come from building a network of small- and medium-sized manufacturers and delivering work to them through our AI-driven platform. Xometry Pay represents the expansion of our offerings. Xometry is now the destination for small manufacturers to improve their business efficiency. Whether you choose to accept jobs through our platform or on your own, Xometry will manage collection and offer predictable payment terms to you and your customers,” said Xometry CEO Randy Altschuler.

Manufacturers and their customers need to fill out a simple online registration form to begin using these services and there is no commitment required. The firm will charge a 3% fee for processing credit card transactions and POs. How ever, it is currently waiving off the fees and offering a free 90-day introductory period to encourage custom manufacturers to see how the product suit can benefit their business.

Previous Article

February 11, 2021

IDEMIA establishes a partnership with FinTech Australia

Read More
Next Article

February 11, 2021

Mastercard & CleverCards to expand digital card usage across Europe

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

USA

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

February 22, 2024

Bud & Fintech Galaxy bring AI-led Open Banking solutions to MENA

Read More

February 21, 2024

OpenPayd bolsters instant payments solutions with TrueLayer

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023