New York, NY, July 25, 2011 --(PR.com
)-- Insurial, a New York company focused on commerce facilitation services globally, announced acquisition of a global supplier payment system from a Seoul, South Korea based firm for $2.3 million.
The system provides immediate settlement of import and export payments in various countries.
With features including automated verification and strongest data encryption technology available today, the application is expected to become a key settlement platform for global entities of all sizes.
"The system is linked with conventional banking accounts, but provides faster settlement. The fact that the application also provides feedback on payment experiences of other parties with the target supplier provides greater transparency in international dealings," said Anna Lin, corporate spokesperson for Insurial.
"With vendors who we build trust with, we are also willing to extend trade credit in future in partnership with banks. We have already been in negotiations with Citigroup and others to look into various possibilities as a result of this technology acquisition," Lin further added.
Founded in 2007, Insurial Americas is a Wall Street based firm providing securities consulting and global trade representation services. Insurial has wholly-owned international subsidiaries in the UAE, China, and Pakistan – as well as partners and affiliates across Japan, India and several other countries.
Insurial's Securities Consulting Operations:
Insurial advises individuals, institutions, and representatives for pension and profit sharing plans, trusts, estates and foundations on managing fixed incomes, and domestic and international equity. Insurial's consulting expertise has resulted in consistent long-term growth for its clients at an acceptable level of risk. This has been achieved by using a proven long-term and tax-sensitive investment philosophy.
Insurial's Global Trade Representation Services Operations:
Insurial provides international business representation and consultation for overseas manufacturers and suppliers interested in maintaining closer relationships with retail brands in the United States. Insurial, acting as an authorized client services representative in the U.S., helps increase and maximize exports of products throughout the United States. Insurial is committed to globalizing its business activities and establishing a hub that can serve as a manufacturer's primary resource and representative in the U.S.