Apple, Coca-Cola and other high-profile companies across various sectors have agreed to participate in SupplierPay, a new White House initiative designed to accelerate payments for smaller firms in the company's supply chain. President Barack Obama is expected to announce the program and early adopters later today, reports the Wall Street Journal.

The program will "strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers," the White House said in a statement.

SupplierPay is the private sector counterpart of the government's existing QuickPay program that pays small business contractors before larger ones. Under QuickPay, businesses typically receive payment within two weeks of a completed project or service.

foxconn_ipad_polishing
Apple in recent years has focused on supply chain issues, working to curb excessive overtime, underage workers and harsh working conditions in its supplier factories. The Cupertino company requires its suppliers to meet a code of conduct, routinely monitors its contract manufacturers for compliance with these fair labor practices and issues an annual Supplier Responsibility report to document its progress.

Update 5:00 PM PT: Following a meeting with President Obama, Apple Senior Vice President of Operations Jeff Williams gave a statement noting that Apple spent more than $3 billion with over 7,000 suppliers running small businesses in 2013 using SupplierPay.

Companies involved with the SupplierPay project included Metal Impact, a company that manufactures the Mac Pro's enclosure. The Mac Pro has been highlighted by Apple as a product line assembled in the United States.

Top Rated Comments

jlgolson Avatar
103 months ago
This is a big deal for small businesses without a significant cash float. Getting paid quickly is essential.

I wonder if it extends to developer payments from the App Store too?
Score: 3 Votes (Like | Disagree)
ArtOfWarfare Avatar
103 months ago
I wonder if it extends to developer payments from the App Store too?

That would be amazing. Right now it takes 5-10 weeks for money from apps sold to appear in my bank account.
Score: 2 Votes (Like | Disagree)
Rogifan Avatar
103 months ago
Hmm...wonder if Amazon will be part of this too?
Score: 2 Votes (Like | Disagree)
mjsanders5uk Avatar
103 months ago
One can only hope the UK and other European govt's join this programme. As a freelancer working in TV production, corporate clients just take the piss sometimes when it comes to payment. The worst are ad agencies and pharma companies - one takes 60+ days to pay. Oh and Tesco are pretty **** to!
Score: 1 Votes (Like | Disagree)
campyguy Avatar
103 months ago
Nice supplementary photo in the OP. That product line is definitely not here in the US, but using US tax dollars for payments/subsidies. Our hard-earned tax dollars going to feed our need for foreign-made products... :( :mad:
Score: 1 Votes (Like | Disagree)
haydn! Avatar
103 months ago
Those worried about the speed of receiving payments from the AppStore, might want to check out Pollen.

https://www.pollen.vc
Score: 1 Votes (Like | Disagree)

Popular Stories

iPhone 14 Purple Lineup Feature

Will the iPhone 14 Be a Disappointment?

Saturday May 21, 2022 9:00 am PDT by
With around four months to go before Apple is expected to unveil the iPhone 14 lineup, the overwhelming majority of rumors related to the new devices so far have focused on the iPhone 14 Pro, rather than the standard iPhone 14 – leading to questions about how different the iPhone 14 will actually be from its predecessor, the iPhone 13. The iPhone 14 Pro and iPhone 14 Pro Max are expected...
apple ar headset concept 1

Apple's Headset Said to Feature 14 Cameras Enabling Lifelike Avatars, Jony Ive Has Remained Involved With Design

Friday May 20, 2022 6:50 am PDT by
Earlier this week, The Information's Wayne Ma outlined struggles that Apple has faced during the development of its long-rumored AR/VR headset. Now, in a follow-up report, he has shared several additional details about the wearable device. Apple headset render created by Ian Zelbo based on The Information reporting For starters, one of the headset's marquee features is said to be lifelike...
sony headphones 1

Sony's New WH-1000XM5 Headphones vs. Apple's AirPods Max

Friday May 20, 2022 12:18 pm PDT by
Sony this week came out with an updated version of its popular over-ear noise canceling headphones, so we picked up a pair to compare them to the AirPods Max to see which headphones are better and whether it's worth buying the $400 WH-1000XM5 from Sony over Apple's $549 AirPods Max. Subscribe to the MacRumors YouTube channel for more videos. First of all, the AirPods Max win out when it comes ...
apple music

Apple Increases Apple Music Subscription Price for Students in Several Countries

Sunday May 22, 2022 1:57 am PDT by
Apple has silently increased the price of its Apple Music subscription for college students in several countries, with the company emailing students informing them their subscription would be slightly increasing in price moving forward. The price change is not widespread and, based on MacRumors' findings, will impact Apple Music student subscribers in but not limited to Australia, the...
iPhone 13 Face ID

'High-End' iPhone 14 Front-Facing Camera to Cost Apple Three Times More

Monday May 23, 2022 7:05 am PDT by
The iPhone 14 will feature a more expensive "high-end" front-facing camera with autofocus, partly made in South Korea for the first time, ET News reports. Apple reportedly ousted a Chinese candidate to choose LG Innotek, a South Korean company, to supply the iPhone 14's front-facing camera alongside Japan's Sharp. The company is said to have originally planned to switch to LG for the iPhone...