Local Merchant Services
Providing Covid Adapted Trade Gateways - In Co-operation With Industry Partners
Covid-19 has changed the way trade is done. Local Merchant Services (LMS) operates Trade Gateways that provide market access to buyers in different places. These include Market Access to countries that the UK has signed a Post Brexit Trade deal with. They also feature Blockchain Facilitated Supply Chains to help Adapt Trade to a Covid Scenario. The Pandemic has demonstrated inherent weaknesses in traditional centralized supply chains. Decentralized Blockchain Technology can help address many of these weaknesses. Relevant Blockchain Services can be provided by LMS
LMS also provides a range of innovative Services. More details on some of these services below.
Following Brexit, the UK can strike its own deals for buying and selling goods and services around the world. A Trade Agreement facilitates trade - usually in goods but sometimes in services too - by making it cheaper. This is often achieved by reducing or eliminating tariffs.
While the UK was an EU member, it was automatically part of around 40 trade deals which the EU had struck with more than 70 countries. Post Brexit, however, there is a need for the UK to be able to access markets outside the EU that the UK has its own trade deals with. Trade Gateways are required for this to happen effectively. LMS operates such Trade Gateways.
LMS is working with significant partners to provide an Escrow Fulfilment Service that represent a new way for sellers to offer their products as part of a Blockchain Facilitated Programnme, and as such can benefit from more efficient and faster transactions, better access to Trade Finance, etc
Under the Escrow Fulfilment Programme, firms take up space in an Escrow Fulfilment Centre within an overseas market, from where they can distribute their goods far more freely to that market. Goods could then be far more easily traded digitally with fulfilment being made from within the overseas target market, once the digital contract conditions were met.
Local Merchant Services also operate High Traffic Local Web Sites where subscribers can subscribe to offers from Merchants. Subscription to these sites by subscribers is to a centralized Subscriber Web Programme that complies with GDPR. Subscription to the different Local Merchant Services sites is made to a centralized User Data Repository (UDR).
Local Merchant Services sites can then access the data from the shared register. The result is a central register from which subscribers can be provided with special offers and services by participating merchants from a single point in a manner compliant with GDPR. This is the LMS Subscriber Web to which there are currently over 2 million subscribers.
Trade Gateways By LMS
Buyers, can enjoy the benefits of accessing suppliers easily, wherever they are.
Suppliers, can also access buyers, wherever they are, as part of a Blockchain Facilitated Network.
LMS Trade Gateways can bring together Buyers, Manufacturers, Sellers, Supply Chain Finance Providers, and other players in relevant Supply chains.
The Coronavirus Pandemic means that the way business is done will never be the same again. However, it has thrown up new opportunities. Those who adapt fast and digitize their business, will be able to take advantage of these new opportunities. The Trade Gateways Programme can help organizations take advantage of those new opportunities.
We can offer a range of Blockchain services if required. As far as Blockchain Adoption is concerned, it can be overwhelming for organizations to consider adopting a new process that also requires a steep learning curve of a new technology.
Users of this site can be offered a simple entry point to utilize Blockchain for Trade, in a relatively simple and straightforward manner that requires no technical integration. A full training and support Programme is also available on request. Please contact us for more information.
All trade parties on the Blockchain can share data as they deem appropriate. Some Features of the Blockchain are detailed below.
Blockchain can eliminate the need for trust in transactions, thanks to the fact that it facilitates the use of transparent and immutable smart contracts.
Blockchain offers potential for easing and speeding up transactions between trading partners. Advantages include:
- Improving supply chain visibility and transparency
- Reduction of transaction costs
- Tracking of products moving through the supply chain
- Facilitating the sharing of information across the Supply Chain
Please contact us for more information on the above. Please also see links below that can help access useful information, as well as useful online services for Trade.