A Decentralized P2P Invoice factoring marketplace

  1. Typically merchants approach invoice factoring financial institutions after the sale has been made and an invoice is issued. AfterPay inverts this process where the factoring service is positioned as part of the sales process. Not having to pay upfront is a big eliminator of friction for buyers and it helps boost the sale and the creation of an invoice. Using AfterPay creates more sales, hence more invoices and hence more business for AfterPay. It is a virtuous loop.
  2. Typically invoice factoring operates in the B2B space. There is a lot of due diligence that happens on invoices, they are rated and benchmarked and the work that goes in means that in order for it to be worthwhile the invoice has to be of a certain size and of a blue chip payer. AfterPay inverts this script.

Technical implementation

In the early stages, we would run our own test ecommerce platform to create the invoices and control the outcomes of the receivables.

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