Fresh produce financing solution company Produce Pay has announced the launch of an online market place in which buyers and sellers can complete real-time trades of perishable agricultural products. 

Produce Pay CEO Pablo Borquez Schwarzbeck

As part of the launch of Produce Pay Marketplace, the entity has become a Registered Developer with Blue Book Services, which provides credit rating and market information for the produce industry.

Produce Pay COO Steve Poindexter described Blue Book as the "gold standard for sellers and buyers of fresh produce".

A vital element of the Produce Pay Marketplace is the licensed use of Blue Book Services data, including Blue Book Scores to help users evaluate potential buyers and sellers in the Produce Pay Marketplace. 

Blue Book senior vice president Mark Erickson welcomed Produce Pay as the company's sixth Registered Developer, saying that technology expands the methods by which fresh produce is transacted, produce professionals would benefit from innovative credit solutions..

"The integration of Blue Book Scores with the Produce Pay Marketplace is a useful complement to the suite of content, analytics, and tools now available via Blue Book Online Services," he said.

Speaking to Fresh Fruit Portal, he explained the Registered Development program was established in the 1990s.

"[The program] involves working with third-party technology companies to provide custom integration of Blue Book data with their software solution," he said.

"Becoming a Registered Developer involves an application process to ensure the system is secure and that the outcome is a win-win for our customers."

The other currently developers are Food Cowboy, Fresh Produce Concepts, iSolve Produce, and Lotpath.

"The produce industry has seen incredible growth of innovative technology solutions, including software, web and mobile applications. Blue Book ratings, scores and information are relied upon to evaluate new business opportunities," he said.

"The Blue Book Registered Developer program provides a secure, controlled data licensing arrangement that allows produce buyers and sellers to access this important Blue Book information via third-party solution providers, like Produce Pay."

The company has been working with Produce Pay to determine how its information will be used on the new online marketplace. 

“We listened to our clients and invested heavily to deliver this platform dedicated to the fresh produce trade," added Produce Pay CEO Pablo Borquez Schwarzbeck.

www.freshfruitportal.com