3.6. Third Party Service Payments

Challenges in Service Fee Payments in International Trade: A significant challenge in international trade is the high cost of service fee payments, often equaling or surpassing the total price of the service itself. For instance, a $180 service might incur an additional $100 in payment processing fees. This issue complicates the trade process, making it difficult to execute payments and find the right service providers. Coimex aims to streamline this aspect by connecting stakeholders within its ecosystem efficiently.

Examples of Trade Services and Their Challenges: Typical trade service providers that often encounter these payment challenges include customs clearance, insurance, inland transportation, labelling, inspection, labor, freight, and freight forwarding, among others. These services often involve payments below $1,000, which are disproportionately impacted by high transaction costs. The scenario typically applies to situations where buyers find the seller's price too expensive and seek alternatives, as alternative sellers are less likely to engage in additional processes.

Service Providers in the Coimex Ecosystem: By integrating service providers such as Freight Forwarder Companies, Custom Clearance Companies, and others into the Coimex ecosystem, Coimex aims to offer a secure platform with ready customers for these providers. In return, it's expected that these service providers will offer discounts to the Coimex community. This approach not only benefits the service providers with a steady stream of clients but also ensures cost-effectiveness for the buyers.

Coimex’s Solution with Exim Tokens: Coimex addresses these payment challenges by enabling service fee payments in Exim Tokens. The use of cryptocurrency significantly reduces transaction costs and simplifies the payment process. For service providers, accepting Exim Tokens is not just about simplifying transactions; it also means potentially higher earnings compared to standard fees in fiat currency. To incentivize this, Coimex might negotiate with regional companies, creating a mutually beneficial ecosystem where service fees in Exim Tokens offer more value than traditional payment methods.

This innovative approach by Coimex is expected to reduce the overall cost burden on international trade transactions, making it more accessible and efficient for all parties involved. By adopting Exim Tokens for these everyday business transactions, Coimex is paving the way for a more streamlined, efficient, and cost-effective global trade system.