14 Dec 2009
HKTDC and Visa Team Up to Offer Trader Benefits
Marketing and Payment Solutions Enhance SME Competitiveness
HKTDC Assistant Executive Director Benjamin Chau (right) and Sunny Cheung, Visa Hong Kong Limited’s Country Manager Hong Kong and Macau, announce the HKTDC-Visa alliance at a cocktail reception on the opening day of the World SME Expo
14 December 2009 – A new alliance has been formed by the Hong Kong Trade Development Council (HKTDC) and the Visa credit card company to facilitate trade by combining integrated marketing services with a one-stop payment solution for small and medium-sized enterprises (SMEs).
Representatives of Visa and the HKTDC said the collaboration involves a comprehensive range of promotional services through the HKTDC’s integrated platform of trade fairs, product magazine and the online marketplace www.hktdc.com – teamed up with Visa’s hassle-free payment solution allowing SMEs to better manage cash flow and operations.
“As the world’s full-service trade organisation, the HKTDC aims to promote international trade activities,” said Benjamin Chau, the HKTDC’s Assistant Executive Director. “So we are delighted to work with Visa to offer SMEs a simple and smooth transaction process that makes operations easy and effective.”
Visa says the Commercial Card offers a total of 100 benefits and privileges for users in Hong Kong. Hong Kong SMEs that use the Visa Commercial Card will be offered benefits such as attractive discounts on certain HKTDC print and online promotional packages. SMEs will also receive bonus points when they use the Visa Commercial Card to pay for any trade activities organised by the HKTDC.
“Visa clearly understands the importance of flexible payments for smaller businesses, and we can provide SMEs with more effective business management and operations solutions,” said Sunny Cheung, Country Manager Hong Kong and Macau, Visa Hong Kong Limited. “Our collaboration with the HKTDC testifies to our shared commitment SME development.”
Buyers can also extend their accounts payable within a 56-day credit-free period, as well as gain cash rebates and emergency cash access. Suppliers accepting business-to-business payment via the Visa Commercial Card will be listed at the Visa Commercial Directory – found online at www.VisaCommercial.com.hk. The directory offers SMEs a one-stop procurement-to-pay solution which shortens accounts- receivable cycles, speeds up cash flow and allows companies to better manage bad debt risks. Companies can also use the directory to source new suppliers.
An independent survey conducted by the research company Aberdeen Group found the cost of processing business transactions using the Visa Commercial Card was on average 70-75 per cent less expensive than traditional payment practices. Researchers also found that 80 per cent of those surveyed cited cost-cutting as the major reason they chose to use commercial credit cards.
The HKTDC and Visa announced their alliance at the opening day of the World SME Expo (3-5 Dec), a showcase of specialised solutions and support services to help SMEs deal with everyday challenges and increase their competitiveness.
Please contact the HKTDC's Corporate Communication Department:
Tel: (852) 2584 4216
About the HKTDC
Established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, www.hktdc.com