ipaymy, one of the leading Singapore fintechs specialising in B2B payments, has announced the launch of Fetch—a new invoicing platform designed to empower SMEs to get paid faster and on-time in Singapore, Hong Kong SAR, Malaysia and Australia.
Grappling with timely invoice payments poses a formidable challenge for SMEs across Asia. Nearly 50% of invoices are paid late, resulting in a Day-Sales-Outstanding (DSO) now averaging 100 days, according to a report by Atradius. This prolonged payment cycle significantly hampers cash flow operations, which can be detrimental in a global economy where rising interest rates and limited access to capital compound the issue.
