TradeCard Launches First Automated Early Payment Program

TradeCard has announced the launch of its automated Early Payment Program that allows suppliers to receive payment as early as two days after the buyer submits an electronic payment approval document. The program offers better rates to suppliers because the discount rate is based upon the buyer's credit rather than the suppliers.

Says Kurt Cavano, chairman and CEO, TradeCard Inc. "Because we connect buyers and sellers online, we can provide unique and differentiated financial services that are not possible if all processes are paper-based. Through making use of the buyer's own cash and in cooperation with our financial institution partners, we have opened up opportunities for viable alternatives to traditional factoring and financing arrangements."