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Michelle Johnson, Head of Membership at FIS, spoke with four companies that provide modern fintech solutions to discuss their payment solutions, benefits for supply chain contractors, and their thoughts on the future of industry payments and project bank accounts (PBAs).
Michelle's interview with Jack Smith, UK Commercial Manager for Earlytrade, below was originally published in the October 2025 issue of SPEC FINISH, the magazine of FIS.
Earlytrade's Early Payment Platform
Earlytrade is an early payment platform that enables main contractors to offer early payment opportunities to their supply chain while generating strong financial returns. The platform integrates with leading construction ERPs and payment systems, allowing suppliers to request early release of payment on approved invoices, explained Jack Smith.
“How does your platform work in practice, and what makes it different from traditional discounting schemes?” asked Michelle.
Jack said: “Unlike fixed discounting schemes, our platform uses an auction-style model. Suppliers choose if and when to offer a discount, invoice by invoice, in exchange for faster payment. Main contractors retain full control over their capital by selecting how much they would like to make available for early payment. Automated acceptance, based on MC-defined parameters and goals, makes it simple to operate at scale, without adding administrative burden to finance teams.”
“We believe for main contractors, Earlytrade transforms working capital into a profit centre. By funding early payments from their own balance sheet, they can achieve returns four to five times higher than money market rates, while simultaneously strengthening supplier relationships and improving prompt payment statistics.
“The system is turnkey, with supplier onboarding and support handled, enabling rapid launch without increasing headcount.”
Michelle then asked “What are the real advantages to suppliers in the construction supply chain?”
Jack replied: “For suppliers, the benefit is straightforward: faster access to cash. On average, suppliers using the platform in the UK are paid 28 days earlier than contracted terms. This improves cash flow stability, reduces reliance on expensive financing, and provides a choice rather than an obligation. Because the discounting is voluntary and auction-based, suppliers remain in control, selecting which invoices to accelerate according to their needs.
“The result is a supply chain that is financially healthier, more resilient, and better able to deliver projects on time and to quality standards.”
Michelle’s final question to Jack was: “What’s your view of the future of payments for our industry, and of Project Bank Accounts (PBAs)?”
Jack said: “In my opinion the construction industry has long been held back by outdated payment practices and rigid mechanisms such as PBAs.
“While designed with good intentions, these accounts tie up capital, create friction, and fail to deliver meaningful financial benefits for either party.
“The future lies in platforms such as ours that combine transparency, flexibility, and financial performance.
“Rather than locking funds away, main contractors can use our platform to unlock capital returns that outperform traditional investment options, while simultaneously protecting and strengthening their supply chain.”
He concluded by saying: “We believe PBAs will increasingly be seen as a stop-gap, whereas Earlytrade represents the future: a digital-first, supplier-friendly solution that aligns incentives, builds trust, and helps the industry fund itself. By reimagining payments as a strategic tool rather than a compliance exercise, it is leading the charge towards a stronger, more resilient construction sector.”