HSBC today announced the launch of HSBC Tradepay for import duties, an targeted funding solution for US customers, which simplifies the payment of import duties while optimizing business traffic chapter.
Many companies currently face changing capital needs and increased advances. By resolving the payment of import duties immediately and without friction via HSBC Tradepay, businesses can have access to credit and complete payments at the same time, leading to more efficient settlement times and better visibility in cash flow.
The solution is flexible and ensures that imports of imports are made directly by HSBC, either through pre-suppressed credit terms with brokers or direct ACH credits.
Vivek Ramachandran, head of HSBC’s worldwide trade solutions, said:
“Customer capital needs are evolving – and we are quickly responding to solutions that offer their greatest value, with the resolution of import duties immediately and without friction through HSBC Fradepay, our customers have more visibility and control of their capital, as well as our customers.
The HSBC Tradepay platform uses innovative, digital solutions to facilitate the transition from paper -based work, incorporating funding and payments on a single trip.
Since its initial release in 2023, HSBC Tradepay has allocated $ 2.3 billion in commercial funding around the world.