Fuiou Pay partners with Visa for global market access for Chinese exporters | The Asian Banker
Sunday, 3 March 2024

Fuiou Pay partners with Visa for global market access for Chinese exporters

5 min read

Shanghai-based global payment company Fuiou Pay has partnered with Visa cross-border solutions (VXBS) to open up global opportunities for Fuiou Pay’s China-based small and medium-sized enterprise (SME) exporter clients, enabling them to have a comprehensive, secure cross-border funds collection and settlement solution and access to more than 30 currencies at competitive foreign exchange (FX) rates.

The VXBS partnership enables Fuiou Pay to provide a holistic payments service, opening up global trading opportunities for its China-based clients, who range from SME exporters, e-commerce and online travel agents. They can now benefit from the end-to-end money movement platform and extensive, competitive FX capabilities that VXBS provides. Fuiou Pay has also obtained Visa's acquiring membership so they can facilitate payments within Mainland China with cards issued by overseas issuers, increasing Fuiou Pay’s clients’ reach.

By utilising USD collections and FX conversion through VXBS, alongside access to Visa Payables Automation solutions, Fuiou Pay’s SME exporters now have a cost-effective, frictionless, safe payment facility, giving them more opportunities to achieve their growth ambitions.

Hu Tao, director of business-to-business cross-border payment department, Fuiou Pay said: “VXBS is a safe, stable, efficient, and powerful platform which greatly meets our exporter clients' needs. It supports remittance from more than 200 countries and territories worldwide with more than 30 currencies, which provides convenience for our clients who are global traders and helps us better serve all our clients.”

Rohit Narang, vice president of cross-border solutions, Asia Pacific at Visa said: “Visa cross-border solutions is all about putting the power of international money movement into people’s hands, ensuring cross-border payments are as smooth, simple, and secure as making transfers locally for even the smallest of businesses. By choosing to embed VXBS in its platform, Fuiou Pay is truly levelling the playing field for its China-based SME clients, and opened up the world for them.”

 

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