Today in B2B payments, Behalf explores trade credit’s path to innovation, and Greenbox Capital acquires Level Up Funding. Plus, WLTH discusses optimizing corporate finance, India introduces a factoring bill and Evergande faces accusations of unpaid supplier payments.
While firms have plenty of technologies and products to support their B2B payment and commercial lending needs, siloed solutions only go so far to support a company’s broader growth objectives. WLTH Chief Product Officer Jo-Ann Chung tells PYMNTS why FinTech that automates non-value-adding workflows — like paying suppliers — must uncover ways to add value to the enterprise.
India’s parliament has passed a new piece of legislation designed to help small and medium-sized businesses (SMBs) secure more working capital. According to the country’s Tribune newspaper, the Factoring Regulation (Amendment) Bill was approved Thursday (July 29) in the Rajya Sabha, the upper house of parliament. The Lok Sabha, the lower house, passed the amendment on July 26.
China Evergrande Group is facing legal action from companies that say the property developer did not pay its bills, according to a Yahoo Finance report. Huaibei Mining Holdings Co Ltd.’s lawsuit against Evergrande says that a division of the company missed payments and Huaibei Mining is now seeking 401 million yuan ($62 million) for fees and breach of contract, according to a Shanghai stock exchange filing cited in the Yahoo Finance report.