China Payments

Chinese Payments Firm Fuiou Pay Ties up With Visa Cross-Border Solutions

Shanghai-based global payment company Fuiou Pay has partnered with Visa Cross-Border Solutions to provide its China-based SME exporter clients with a comprehensive, secure cross-border funds collection and settlement solution.

The Visa Cross-Border Solutions (VXBS) combines the best of Visa’s homegrown cross-border and cash management capabilities with solutions enabled by its acquisition of Currencycloud.

The partnership will enable Fuiou Pay to provide its clients with access to more than 30 currencies at competitive foreign exchange (FX) rates.

Additionally, Fuiou Pay has obtained Visa’s acquiring membership, which will allow it to facilitate payments within Mainland China with cards issued by overseas issuers.

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, and safe payment facility.

Hu Tao, Director of Fuiou Pay Business to Business Cross-Border Payment Department 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

Rohit Narang, Vice President of Visa Cross-Border Solutions, Asia Pacific 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.”