TradeCard, Inc. reported 31 percent revenue growth in 2008 despite a challenging economic environment. TradeCard added more than 1,000 new members and the total number of individual TradeCard users worldwide surpassed 30,000. Use of trade finance products on the TradeCard Platform tripled as buyers and their suppliers sought a safe haven from credit concerns during the global credit crisis.   

“We’ve been providing innovative trade finance products such as payment protection on the TradeCard Platform for more than a decade and the rise in demand for these products during the past twelve months has been significant,” said Kurt Cavano, CEO of TradeCard, Inc. “As the credit crisis continues into 2009, many companies will seek out more efficient and more economical alternatives to traditional trade finance products such as letters of credit. TradeCard can help these companies bring financial stability to their supply chains, while at the same time reduce their trade finance costs.”   

Suppliers access automated payment protection and trade finance products from participating financial institutions on the TradeCard Platform. Buyers, such as brands and retailers, reduce liquidity strains in their supply chains by making early payment programs available to their suppliers, and eliminating the need for suppliers to use their own credit lines for purchases. Financial institutions reduce risk and increase financing opportunities by relying on the TradeCard Platform’s workflow automation and real-time transaction visibility features.