Ping An Digital Bank has launched a Purchase Order Financing product specifically for cross-border e-commerce businesses. The Ping An PO Financing product does not require traditional collateral.

Eligible businesses can apply for financing with a ratio of up to 95% of accounts receivable which is based on eligible invoices, up to USD 5 million and at a repayment period of up to 120 days.

The approval and drawdown process could be completed as fast as T+1 business days. Thomas Tung, the Chief Business Officer for Ping An Digital Bank, shared that the launch of Purchase Order Financing integrates credit insurance with risk management, provifing cross-border e-commerce merchants with efficient and flexible liquidity support.

Ping An Digital Bank shared that it uses real-time sales data from cross-border buyers to gain insights into clients’ actual operational performance.

The bank intends to continue focusing on deepening the application of data analytics and financial technology.

Featured image edited by Fintech News Hong Kong based on an image by xb100 on Magnific