HSBC launches payables financing solution

The new scheme allows buyers to sponsor the financing of suppliers enabling them to convert their payables into cash more quickly.

HSBC global payments and cash management has announced the launch of a new regional payables financing solution. Payables financing is a product that enables buyers to provide early payment to strategic suppliers, thus helping them to convert their outstanding payables into cash more quickly. It is achieved by the buyer sponsoring the financing of its payables to its suppliers.

The scheme is offered through HSBCnet, the bankÆs global internet banking channel, and is integrated with all the existing capabilities...

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