HSBC is working with Cianiao to offer efficient finance for online merchants.
Cianiao is the logistics arm of Alibaba.
The finance will be available to 1,800 merchants on Alibaba’s Tmall.
They will be charges 1% until 30 June.
What does this mean?
This is a first for HSBC, as it will use data from third party Cainiao – such as inventory information – to approve trade financing.