Orbian Online Payment and Credit Facility Introduced
Orbian, a co-venture of Citigroup, SAP AG and DCE Ltd, has been launched. Orbian enables businesses to trade on better terms, by releasing money that is locked up in supply chains. Once an invoice has been approved, an Orbian Credit to the value of the goods or services is then issued to the suppiers in real time. Suppliers can either use it to pay other suppliers, discount it to cash, or hold it to maturity. Buyers can defer payment without negatively impacting suppliers A worldwide community is being developed, comprising two distinct groups, Members and Sponsors. Members are the end users of Orbian. Sponsors are primarily banks or financial institutions who offer Orbian membership and credit facilities to existing and potential customers. E-markets and investment grade corporates are also eligible to become Sponsors. Orbian provides a web enabled, secure and real time solution for high value commercial transactions.