XTransfer, a B2B cross-border trade payment platform in China, has partnered strategically with TerraPay, a global money movement company.
This partnership aims to improve payment solutions for small and medium-sized enterprises (SMEs) involved in international trade by providing secure, compliant, fast, and cost-effective cross-border payments and fund collection solutions.
Through this partnership, XTransfer will utilise TerraPay’s global payments infrastructure to enhance its service offerings. This will enable XTransfer’s customers to execute local payments globally and settle payments in local currencies across 136 countries and regions, including emerging markets such as Africa, Latin America, and Southeast Asia.
This collaboration between XTransfer and TerraPay will broaden the spectrum of payment methods available to SMEs, supporting cross-border trade.
“This partnership is a significant milestone for XTransfer, as it greatly enhances our global payment capabilities. By leveraging TerraPay’s extensive global payments network, XTransfer has achieved significant cost savings and accelerated our market entry time, eliminating the need for local rebuilding efforts. This collaboration further exemplifies our dedication to empowering SMEs in their global expansion and enhancing global competitiveness through innovative trade payment solutions,”
said Violas Xiao, Local CEO of Singapore at XTransfer.
“We are thrilled to partner with XTransfer to enhance cross-border payment solutions for SMEs globally. This partnership underscores our commitment to providing innovative, reliable financial solutions that drive efficiency and inclusivity. Together, we aim to empower SMEs with the tools they need to succeed in the global marketplace, fostering economic development and connectivity in emerging markets,”
said Sukesh Malliah, Vice President – Asia Pacific at TerraPay.
Featured image credit: Edited from Freepik
