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Visa, Shanghai Commercial Bank and AAHK team up to help freight forwarders' working capital
In a pilot, Shanghai Commercial Bank issued a pre-authorisation on a co-loading freight forwarder’s commercial card so the main freight forwarder was paid within three days, and the co-loader has 56 days to pay; the bank uses the airport's cargo data platform for verification.
Visa has teamed up with Airport Authority Hong Kong (AAHK) and Shanghai Commercial Bank to launch a pilot aimed at transforming B2B payment flow for small-medium enterprise (SME) freight forwarders.
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