Wells Fargo & Company of the US has introduced a range of online payment and financing solutions for domestic and international trade.

The WellsXchange suite of services includes a prepaid commercial letter of credit. This service claims to provide for US importers a quick and secure method to pay for e-commerce purchases while assuring that the goods purchased are received.

Documentary collection is also offered. This provides US exporters with the means to deliver documents and collect payments from overseas buyers online.

An additional feature in Wells Fargo's B2B suite is an escrow service. With i-Escrow®, buyers and sellers online can nominate a third party intermediary to hold funds until the agreed terms of the transaction have been met.

Wells Fargo was the first major financial services company in the U.S. to launch consumer Internet banking services in 1995 and was ranked in the Nielsen/Net Ratings the top bank in terms of individual monthly visitors to its web site in October 2000.