XTransfer launches convenient cross-border payment solutions for Vietnamese SMEs
XTransfer launches convenient cross-border payment solutions for Vietnamese SMEs
XTransfer, a global leader in cross-border B2B trade payments in China, has developed a fast, secure, and compliant cross-border payment solution tailored for Vietnamese SMEs, helping them efficiently collect payments from overseas customers.
XTransfer offers a convenient international payment solution with just one account. — Photo Courtesy of XTransfer |
Through partnerships with global banks and licensed financial institutions, such as JPMorgan Chase, Deutsche Bank, Bank of China, OCBC Bank, Visa, and others, XTransfer provides Vietnamese businesses with the "Global Multi-Currency Account."
This account supports major currencies like RMB, USD, GBP, and EUR, as well as various regional currencies worldwide.
It allows Vietnamese exporters to easily receive payments from international buyers and quickly convert them into VND, enabling true global transactions with a single account.
When both buyers and sellers use XTransfer accounts, payments can be settled seamlessly 24/7, ensuring secure, instant, and compliant transactions.
This solution is estimated to reduce remittance fees by 95 per cent and foreign exchange costs by 80 per cent, enabling a smooth and uninterrupted global trade payment process.
XTransfer offers significant convenience to both Vietnamese sellers and international buyers, solving 100 per cent of cross-border trade settlement challenges.
Trinh Thi Minh Kieu, CEO of Quang Minh Kieu Import & Export Trading Services Company, and a loyal user of XTransfer, said her company primarily exports to the U.S. and Europe.
In the past, receiving payments used to take three to five business days. Since switching to XTransfer, the entire cross-border payment process has been greatly simplified, and the company can receive funds on the same day.
“It's extremely efficient and convenient! Plus, there are no compliance risks," she said.
As early as 2023, XTransfer began expanding into the Vietnamese market and participated in the Vietnam International Building Materials & Hardware Expo (VietBuild HCMC) in HCM City. The global business solutions introduced by XTransfer attracted significant interest and inquiries from Vietnamese exporters.
Bill Deng, XTransfer’s Founder & CEO, said: "XTransfer will continue to invest in serving Vietnam’s SMEs, ensuring that local small businesses can enjoy the same level of financial services as multinational corporations."
Founded in 2017, XTransfer is headquartered in Shanghai and has branches in Hong Kong, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore.
The company has obtained local payment licenses in China, Hong Kong, Singapore, the UK, the US, Canada, and Australia. With over 600,000 business clients, XTransfer has established itself as a leader in providing cross-border payment services in China.
It is committed to delivering fast, secure, compliant, convenient, and cost-effective payment and collection solutions for small and medium-sized enterprises.
This significantly reduces the costs associated with international expansion and enhances their global competitiveness.
