27 February 2024

HSBC launches innovative, digital trade finance solution in Australia

HSBC today announced the launch of HSBC TradePay in Australia, a market first, that provides companies with a faster, simpler, 100% digital way to seamlessly pay suppliers and improve their working capital position.

By using HSBC TradePay, businesses can have complete control over the timing of their trade payables. With loan processing speed of under a minute, HSBC TradePay makes Just-In-Time financing a reality. The solution streamlines loan drawdown with a simple payment file upload and suppliers being paid directly.

Nadia Ladak, Country Head, Global Trade & Receivables Finance at HSBC Australia said: “HSBC TradePay is game changing for companies as it alleviates pain points by helping Australian companies trade with confidence, without sacrificing their supplier relationships or working capital.

“As a market first in Australia, the fully digital solution removes the need for manual inputs and supporting documentation, enabling companies to seamlessly drawdown trade loans to pay suppliers. In an environment of rising costs and business pressures, an innovation such as TradePay is overdue.”

TradePay is an extension on HSBCs existing suite of Trade Loan solutions specifically developed to address client needs for easy access to finance, as needed, via a digitised process.

“HSBC was founded on trade and facilitating connections across markets. As Australia’s leading trade bank, we understand the importance of simplifying trade across borders to support Australian businesses to grow,“ Ms Ladak added.

HSBC Australia

In Australia, the HSBC Group offers an extensive range of financial services through a network of 33 branches and offices. These services include retail and commercial banking, trade finance, treasury and financial markets, payments and cash management and securities custody. Principal HSBC Group members operating in Australia include HSBC Bank Australia Limited (ABN 48 006 434 162 AFSL/Australian Credit Licence 232595) and The Hongkong and Shanghai Banking Corporation Limited (ABN 65 117 925 970 and AFSL 301737).

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of US$3,039bn at 31 December 2023, HSBC is one of the world’s largest banking and financial services organisations.

Media enquiries:

Jessica Effeney
M: +61 400 998 373
E-mail: jessica.effeney@hsbc.com.au

Harrison Worley
M: +61 490 262 212
E-mail: harrison.worley@hsbc.com.au