Clear (formerly known as ClearTax), an Indian fintech company, announced today that it has launched invoice discounting for local MSMEs. The new product will be available for company existing clients that exceeds 3000 firms.
In India, according to Clear’s research on more than 800 suppliers showed that the payments to them are delayed between 60-120 days, despite the MSME Act, 2006 which requires MSME payments within 45 days. That was a good reason for Clear to propose invoice discounting and help solving this gap.
