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.
The Global Trade Payment Platform, through a partnership with Visa, will help Korean SMEs cut down the number of payment receivable days, when trading with Japan, Taiwan, Singapore, the US and Mexico.
The Singapore-based head of commercial and money movement solutions on partnerships, risk management and digitalisation, in the rapidly expanding universe of commercial payments.
Embedded credit risk decisioning technology will give greater access for MSMEs to make loan applications, and could drive financial inclusion amid the government’s push for digitisation.
Visa-owned Currencycloud is working to expand its client base in China. In a discussion with CT, Rohit Narang, leader of the firm’s Cross-Border Solutions, highlighted the markets’ significant growth potential.
The Apac-led embedded finance partnership aims to bring new efficiencies in payments to the B2B space and marks the first ever collaboration between Visa and SAP.