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 of HSBCÆs payments solutions platform, fully automated and paperless with core features including flexible authorisation, payments advising, and enriched reporting.
A key benefit of the scheme is that the current payments process flow of...
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