Swiss Post, via its subsidiary PostFinance, has established a company that will offer Swiss enterprises a new product that includes accounts receivables management, Prefinancing and payment guarantee. The product, “Factoring Plus” is new to the Swiss market and is available from the beginning of 2011. Intrum Justitia is partnering with PostFinance and will be providing credit worthiness checks and payment guarantee.
The new subsidiary, Debtors Service Ltd, will offer companies headquartered in Switzerland a new product combining accounts receivable management, preliminary financing and payment guarantees. Accounts receivable management includes creditworthiness check, accounting and reminders. Prefinancing means that business customers receive up to 90% of the invoice amount shortly after the invoice has been sent to their end customers. Payment guarantees preclude accounts receivable losses, i.e. losses arising from unpaid end customer invoices.
“Factoring Plus combines payment transaction and corporate financing services. Factoring Plus will help strengthen PostFinance’s position as the number one payment services provider in Switzerland,” says Beat Witschi, Head of Products at Post Finance
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