Global fintech player Aleta Planet said today that customers using DiMuto’s AgriFood trade solutions to track the movements of perishable goods through the global supply chain can now use its payment solutions.
By integrating its payment solutions with DiMuto’s blockchain-enabled platform, Aleta Planet is able to offer a high degree of transparency and traceability to businesses and institutions involved in the trading and financing of agricultural products like fresh vegetables and fruit, meat and livestock and seafood products as they move from farm to table.
The payment functionality went live four months after Aleta Planet and DiMuto announced they were teaming up to tackle supply chain inefficiencies that have led to gross wastage and lack of access to financing in the global trading of perishable AgriFood products.
DiMuto’s AgriFood trade platform offers three key services – DiMuto Marketplace, DiMuto Trade Management and DiMuto Trade Financing. DiMuto leverages its ecosystem of traceable buyers and suppliers to move traceable AgriFood products around the world. Once the order has been placed between a buyer and a seller, the products are tracked and managed using DiMuto’s Trade Management module. These orders, with the added visibility on DiMuto, are now available for financing on DiMuto.
DiMuto’s proprietary digital asset creation technology (DACKY) tracks AgriFood products with QR labels and digital images to track the movement of produce so that every buyer and seller of goods and services along the supply chain – from farmers and packers to the logistics and shipping companies, distributors, and retailers – know where the products are at any point in time.
Buyers can verify the quality of the products from AI-scored images uploaded to the platform before they are packed and receive advance warning of any delays in delivery. The seller, on the other hand, can see the produce when the carton is opened at the receiving end. This helps to assure objective product quality assessment across the supply chain.
With Aleta Planet’s payment solutions embedded with DiMuto’s technology, those making and receiving payments for goods and services as well as those providing financing can easily access all critical data regarding the product quality, documentation and payment activities for every single trade order. Additionally, blockchain-enabled systems such as DiMuto offer users a greater level of security since records are updated and stored across different computers which can be accessed by interested parties.
Ryan Gwee, Founder and Group Chairman of Aleta Planet, said: “Everyone involved in the global trading and financing of perishable products knows how useful it is to have maximum visibility of the flow of goods and funds along multiple points in the supply chain. Now they can have that and more – visibility of products, documents, and payments down to each carton and item.
