Channel cashflow blips could receive a boost after UK banks agreed to speed up electronic payment transfers.
It currently takes three days for payments to clear, or five days if made over a weekend. But banks have pledged to introduce a same-day/ overnight system by November 2007.
A Siemens Financial Services representative said: "This will speed up cash payments, which will improve cashflow for resellers."
David Bishop, deputy head of parliamentary affairs at the Federation of Small Businesses, said: "Electronic payments are based on a clearing system that existed before computers. All bank customers lose out because banks make three days interest. Changes will affect any business that makes or receives electronic payments."
Eddie Pacey, director of credit at Bell Microproducts Europe, said: "Anything that encourages same-day transfers is good. If a reseller has an urgent order and is waiting for the payment to come through before the shipment can be sent, same-day clearance will speed up the process."
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