Everbright Bank rushes to the Internet cross-border payment market

It is reported that the State Administration of Foreign Exchange recently approved 17 third-party payment companies in five regions of Beijing, Shanghai, Shenzhen, Zhejiang and Chongqing to obtain pilot qualifications for cross-border e-commerce foreign exchange payment services, and the third-party payment cross-border business across the country officially broke. As of the end of September, Everbright Bank's first real-time processing platform for cross-border payment automation has signed cooperation agreements with a number of third-party payment agencies, and seized the high-end Internet cross-border payment market in the first place.
At the same time, on September 30, Everbright Bank took the lead in cooperating with Beijing Ainong Station Technology Service Co., Ltd. to complete the two-way cross-border payment transaction for the purchase of foreign exchange and settlement of foreign exchange under the first cargo trade in Beijing, opening a new pilot for cross-border payment business in Beijing. The chapter also officially kicked off the cross-border payment business in Beijing.

With the increasing drama of the domestic “haitao” army, the demand for cross-border “haitao” has become increasingly strong. The scope of “haitao” has been expanded from the territory to foreign countries, and its growth has been rapid. According to the China E-Commerce Research Center, the scale of overseas purchasing market transactions has doubled year after year. The transaction amount is 24.1 billion in 2011 and 4.8 billion in 2012. It is expected to reach 70 billion in 2013. The cross-border payment market is undoubtedly a big cake in the payment field.

The relevant person in charge of Everbright Bank said that Everbright Bank will extend the Internet payment products from overseas to overseas, and use the large customer base of third-party payment institutions to jointly create a cross-border payment real-time processing service platform to fully realize the use of RMB by customers through third-party payment institutions. Overseas shopping greatly facilitates the domestic customers' overseas shopping needs, and realizes the whole process of domestic customers purchasing overseas products without going out to travel.
Everbright Bank seized the opportunity and adhered to the service tenet of “leading technology and service innovation”. As early as August 2012, it officially completed the product development of cross-border payment, becoming the first bank in the industry to realize real-time processing platform for cross-border payment automation. With the first-mover advantage of the product, it quickly seized the market opportunity and won more opportunities for third-party payment institutions to cooperate and build a “big bank in the network”.

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