UOB taps fintech firm to make supply chain payments easier
Virtual credit card account extends cash flow for businesses, allows suppliers to get paid immediately
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Singapore
WITH Singapore having the most suppliers selling on credit in the Asia-Pacific, United Overseas Bank (UOB) is aiming to ease cashflow pressures across businesses' supply chain.
The bank on Tuesday launched a "virtual payment" service here that allows businesses to pay their vendors and suppliers through a virtual corporate credit card account. The service is a first for South-east Asia, said UOB.
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