The Industrial Bank of Japan plans to develop an Internet-based system that will enable companies to import and export products as well as settle payments online, sources close to the project said Wednesday.
The system, targeted at international trade in automobile parts, will allow users to order goods from foreign manufacturers, clear customs, settle payments and borrow operating funds -- all via the Internet, the sources said.
According to the sources, it is probably the first attempt in the world to create online services aimed at making the process of importing and exporting goods more efficient.
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