BoT starting digital factoring next year
The Bank of Thailand plans to implement digital factoring next year to facilitate small and medium-sized enterprise (SME) access to loans.
Factoring businesses provide an intermediate solution for liquidity problems caused by delayed payments. The idea behind the process is suppliers sell the invoices of a customer or debtor to a factoring business at a discount to receive their money now.
Somruedi Banchongduang
