XTransfer Partners With OCBC To Boost Cross-Border Trade Payments
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
The world’s leading B2B cross-border trade payment platform, XTransfer, has announced a new partnership with OCBC, the second-largest financial services group in Southeast Asia. This partnership aims to offer small and medium-sized enterprises (SMEs) better cross-border payment solutions.
XTransfer and OCBC will work together to provide services like payment processing, foreign exchange (FX), risk control, and wealth management. The new partnership was formalized with a Memorandum of Understanding signed on December 18, by Bill Deng, Founder of XTransfer, and Ang Eng Siong, Chief Executive Officer of OCBC China.
XTransfer Aims To Boost Its Services In Southeast Asia And Greater China
The deal will let XTransfer grow its services in Southeast Asia and Greater China, places where OCBC has a large network. Bill Deng said the partnership is a huge step for the company. He added that it will help XTransfer save money and grow quicker in Southeast Asia.
Ang Eng Siong said OCBC’s network in Singapore, Hong Kong, Malaysia, and Indonesia is a great match for XTransfer. He explained that their close work together will help XTransfer support small and medium-sized businesses that need financial services for trading across borders in these areas.
The partnership will let XTransfer give its customers a “Global Multi-Currency Account” from OCBC Hong Kong. This account will help businesses pay and receive money in different currencies. It will work with major currencies like the Renminbi, US Dollar, British Pound, and Euro, and also with currencies from ASEAN countries.
Due to this partnership, XTransfer’s 550,000 customers will have more ways to pay and receive money. They will be able to use local networks like CHATS and FPS in Hong Kong, simplifying payments, just like using a local bank transfer. This will help businesses that trade internationally and speed up and simplify international payments.
In recent years, trade between China and ASEAN has grown quickly. XTransfer said that from January to September this year, the amount of money received by small and medium businesses from ASEAN grew by 80% compared to the year before. This partnership aims to meet the growing need for better ways for businesses in these areas to handle payments.
XTransfer Partners With Popular Banks To Improve Its Payment Infrastructure
XTransfer is working with well-known banks from around the world to build a better payment system. The new deal with OCBC will help XTransfer improve its services. The company said it believes that giving small businesses more payment options will help them grow in other countries.
The new deal will help businesses that trade with other countries save time and money by simplifying the process of sending and receiving payments. As the partnership grows, it is expected to help small businesses trade with other countries and become better.
The partnership helps XTransfer become stronger in handling global trade payments. With many payment choices, the company will help businesses solve problems like sending payments and managing risks.
