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 UPS launches Exchange Collect
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UPS launches Exchange Collect
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UPS has launched UPS Exchange Collect, a new service aimed at helping companies accelerate payments and reduce the risks associated with international trade transactions.
Under the new system, UPS collects payment from the receiver while the shipment is still in transit. Once delivery is confirmed, the company deposits the payment in the sender's designated bank account. The whole process is done online through email and electronic remittance for the fastest possible turnaround, the company said.
"On average, sellers receive payments via UPS Exchange Collect in 10 days or less, a major improvement considering that payment in some international trade transactions can extend up to 90 days on traditional credit terms," said Matt McGee, UPS' vice president for marketing, Asia Pacific region.
Meanwhile, the company reported that its senior air operations executive, John McDevitt, has been promoted to the integrator's management committee.
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