Asda has developed a new supplier payment system which it claims will reduce payment delays and also give smaller suppliers access to quick credit – for a fee.

Judith Batchelor, finance director for the Wal-Mart-owned business, said that the new “quick-and-easy” payment system allowed suppliers to track their invoices in the Asda system. It also gives suppliers the option of receiving early payment from Asda for a fee of 12 per cent a year.