Singapore – 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.
“We are confident that Aleta Planet’s payment solutions for DiMuto’s blockchain-enabled platform will go a long way to making trade in agricultural produce safer, smoother and speedier.”
Aleta Planet said it issues digital accounts globally that enable cross-border B2B payments. With its global account setup, customers can leverage on card networks like Diners Club, Discover Network, MasterCard, Visa and UnionPay International, or alternative payment solutions, to find the most costeffective cross-border payment mechanism. Aleta Planet’s global footprint across six jurisdictions and ability to collect local currencies are value-adds to DiMuto to scale their business globally.
Participants in the supply chain will be able to leverage the digital account’s ability to collect and pay in
14 different currencies at competitive exchange rates. Financing is also available through Aleta Planet’s partners including Asia Capital Pioneers Group (ACPG), the parent company of Aleta Planet. ACPG and DiMuto have worked together on a private financing deal involving the import of Vietnamese Basa fish into China.
Gary Loh, Founder and Chief Executive Officer of DiMuto, said: “Aleta Planet plugs two gaps in the allin-one platform DiMuto offers customers to help them trade better with visibility. These are the payment and settlement, and financing services that are critical in helping to grease the flow of perishable produce.
“DiMuto’s mission is to redefine global AgriFood trade and to that end, we will continue to deploy the latest fintech applications and work with partners who can value-add and help our customers with insightful trade data so they can see the full picture in the messy middle of the retail supply chain.”
DiMuto has to date handled over 12 million pieces of AgriFood products with a gross merchandise value of more than US$17 million from customers in over 10 different countries including China, the world’s second largest economy.
About Aleta Planet
Founded in 2014 in Singapore, Aleta Planet is an award-winning global payments solution provider that simplifies online, cross-border and multi-currency transactions safely, securely and efficiently. They are a holistic payments technology provider of merchant acquisition, card issuance, remittance and B2B payments. As a global payment facilitator that interconnects different payment options and types, Aleta Planet specialises in helping Chinese companies to scale the global market. Aleta Planet is licensed in Singapore by the Monetary Authority of Singapore as a Major Payment Institution and in other jurisdictions, with offices in Singapore, Hong Kong, Dubai, Australia and Malaysia. Its secure and internationally certified proprietary platform connects businesses to the world’s payment infrastructure through one Application Programming Interface, enabling business growth, greater customer engagement and new revenue opportunities.
The success of its card network-agnostic platform has also garnered Aleta Planet its operating licenses from card networks including Diners Club, Discover Network, JCB, MasterCard, Union Pay International Visa, SWIFT and other Alternative Payment Methods. Furthermore, Aleta Planet’s broad network enables individuals and businesses to deposit local currencies in 39 countries or remit funds to 140 countries.
For more information, please visit: www.aletaplanet.com
DiMuto is an AgriFood Trade Solutions that powers global AgriFood Trade with Visibility and Financing. With its three pillars of Marketplace, Trade Management, and Trade Financing, DiMuto simplifies every step of global trade – from produce, trade to market, DiMuto provides sales, marketing, operations, financing and insurance tools so agribusinesses can get the data visibility they need to trade better and grow greater.
With DiMuto’s ability to capture AgriFood trades, make them visible and monetize them on a single platform, we create a more efficient, transparent and measurable ecosystem of sustainable global AgriFood trade.
With Visible Trade, DiMuto powers companies and the world forward with confidence.
Since 2019, DiMuto has successfully tracked and traced over millions of pieces in produce and millions in dollars of trade value on our platform, working with a global portfolio of clients in over ten countries and five contientns. DiMuto is founded by Chief Executive Officer Gary Loh, who is also the Executive Chairman of First Alverstone Group.
For more information, please visit www.dimuto.io