The development history of third-party cross-border payment has been dependent on the changes and evolution of the cross-border e-commerce market. With the increase in global per capita purchasing power, the increase in Internet penetration, the further maturation of payment channels, and the improvement of logistics and other supporting facilities, online shopping has become a consumer habit emerging globally, and cross-border e-commerce has become an inevitable trend to replace traditional trade. However, in recent years, the growth in the scale of cross-border e-commerce has slowed down, and the development of the third-party cross-border payment industry has entered a stable period. Therefore, in the absence of new business models or emerging areas, the third-party cross-border payment industry relying on cross-border e-commerce can hardly show rapid growth.

However, opportunities also lie in changes. After the epidemic, various industries are starting to recover; the two major cross-border consumption scenarios of traveling abroad and studying abroad are becoming more and more popular; the digital interconnection in Guangdong, Hong Kong and Macao Bay Area is upgrading; SMEs are ushering in a new wave of going overseas, and the new forms of cross-border trade, such as B2C and B2B, are maintaining rapid growth. Cross-border payment has ushered in new development space.

In this context, the global cross-border payment market size, structural characteristics and payment mode are quietly changing, with both opportunities and challenges. Cross-border payment is faced with real problems such as high cost, slow speed, restricted access and insufficient transparency. For cross-border payment service platforms, it is quite a daunting challenge to ensure that their business complies with the local laws and regulations of each market, and at the same time provide corresponding solutions for the different business models of cross-border e-commerce to meet the diversified business needs of merchants. Especially in today's small and medium-sized enterprises competing to go overseas, building a faster, cheaper, more transparent and more inclusive cross-border payment, and solving the worries for enterprises to go overseas has become the development goal and vision of the whole industry **** the same.

Based on the importance of cross-border payment, EqualOcean will check 20 cross-border payment platforms in China.

Lianlian International

Lianlian Digital International is the core brand of Lianlian Digital. Founded in Hangzhou, Zhejiang Province in 2009, Lianlian Digital won the Pilot Approval of Cross-border Foreign Exchange Payment Business in 2015. It is one of the first batch of cross-border foreign exchange business pilot organizations in China.

By 2020, it will support the cross-border payment collection services of 20 global e-commerce platforms such as Amazon, Ebay, Wish, Shopee, etc., covering more than 100 countries and regions. It covers cross-border payment, cross-border logistics, global acquiring, remittance service, and global fund distribution. It is a comprehensive and innovative enterprise in the field of cross-border trade payment finance and services in China. With the strength of compliance and security and the ability of scientific and technological innovation, Smooth has constructed a payment and financial network covering the whole world and a trade service network covering the whole life cycle of enterprises.2021, Lianlian International announced the cooperation with VISA to launch a global business payment solution.

Till now, Lianlian Digital has completed five rounds of financing and plans to launch an IPO in Hong Kong next year at the earliest.The financing may bring Lianlian Digital's valuation to about 20 billion yuan.

Table tennis

Hangzhou Ping Pong Intelligent Technology Co. was founded in 2015 as an innovative promoter of China's cross-border industry.

Currently, PingPong has more than 20 branches around the world, covering more than 200 countries and regions, and is one of the world's largest integrated cross-border trade service providers. It has access to e-commerce platforms such as Wish, Newegg, Shopee, etc., which are among the top 10 Amazon global sites, and is the only Chinese company with payment licenses in the US, EU, Japan and Hong Kong. Relying on its global operation and service network, payment licenses and compliance qualifications in mainstream countries and regions, Ping Pong has built a diversified product matrix around the comprehensive needs of cross-border e-commerce and foreign trade enterprises going overseas, which can provide one-stop digital fintech services that are compliant, safe, and convenient for different types of customers. It has been committed to building a global digital operation and service network through technological innovation, joining hands with more ecological partners to help cross-border sellers and enterprises to enhance global competitiveness and build prosp

Providing end-to-end convenient services for enterprises of all sizes, supporting SME customers to accept online payments from global buyers, receiving payments at low cost through virtual bank accounts, facilitating remittances, and providing multi-currency issuance of cards, expense management and other value-added services, and customized API solutions for large enterprises and institutions. To better support the growth of its global business, Airwallex Airwallex Exchange San Francisco office will become the fifth global technology development center. Following in the footsteps of Melbourne, Sydney, Shanghai and Amsterdam, the R&D center focuses on product development.d and upgrades to build a stronger global financial infrastructure to further drive global digital innovation.

Completed Series E financing of $100 million in November 2021, financed by Sequoia Capital China.

XTransfer

Established in May 2017 and headquartered in Shanghai, XTransfer is a one-stop cross-border financial and risk control service provider for foreign trade enterprises. It is committed to helping small and medium-sized enterprises (SMEs) significantly reduce the threshold and cost of the global exhibition industry. Its revenue mainly comes from service fees for cross-border collections, foreign exchange, anti-money laundering risk control and other fund management services.

At present, XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia, and has branches in major foreign trade cities such as Hong Kong and Shenzhen in China, as well as in the United Kingdom, the United States, Canada, Japan, Australia, and Singapore. Using technology as a bridge, we have built a digital, automated, internet-based and intelligent anti-money laundering risk control infrastructure centered on small, medium and micro enterprises. Through cooperation with renowned multinational banks and financial institutions, it has built a global multi-currency unified settlement platform at the multinational group level, allowing MSMEs to enjoy the same level of cross-border financial services as large multinational groups.

In September 2021, XTransfer completed a Series D financing round of approximately $100 million, led by D 1 Capital Partners.

Finding Sunrate

Founded in 2016 and headquartered in Shanghai, SUNRATE is a digitized global payment and exchange rate management enterprise service company, focusing on providing digitized global payment and financial management for general trade, cross-border e-commerce, online travel and other enterprise customers.

Management solutions.

Currently, it has set up branches in Shanghai, Hong Kong, Tokyo, Singapore, Jakarta and London, which can help enterprises to do business in 130 countries. We are committed to helping enterprises digitize their global payments and provide them with more resource support through highly adaptable treasury management solutions, so that they can focus on the development of their core business and conduct global trade with ease. While entering into strategic partnerships with international banks such as Citi and Standard Chartered, we have also become a card organization member of MasterCard and Visa, and continue to provide one-stop digitization services to tens of thousands of enterprises around the world.

In December 2021, it completed its Series C financing round, which was led by Softbank Asia Ventures and followed by Banyan Pacific Capital (BPC), TDF Impact Investment and other organizations, with the participation of its old shareholders, Red Dot China, Jifu Asia, CRE Capital, and Sinopacific Evergreen.

PayerMax

Launched in 2020 by Eggplant Technology, PayerMax is a cross-border payment platform that provides one-stop payment solutions, focusing on emerging markets.

PayerMax continues to make breakthroughs in emerging markets around the world, and in the first half of this year alone, it has obtained multiple payment licenses in Thailand, the UAE, and other countries, allowing it to provide smoother cross-border acquiring, cross-border disbursing, subscription payment, merchant account management, and multi-scenario access services for global enterprises. At the same time, PayerMax has also obtained PCI-DSS certification and has a financial-grade risk control system to guarantee the safety of every fund and comprehensively prevent transaction risks. At present, PayerMax supports more than 350 payment methods and 30 currencies globally, and its business covers more than 50 countries, so it can meet the diversified payment needs of global users and provide one-stop payment solutions for Chinese overseas and foreign enterprises.

In September this year, it formally obtained the Operator of Payment Systems (OPS) license from the Central Bank of the Philippines.

Camel Digital Technology

Camel Digital Technology (Beijing) Co., Ltd. was founded in 2020 and is committed to providing efficient, reliable, low-cost and comprehensive financial technology products and solutions for the entire industry ecosystem, including cross-border e-commerce merchants, enterprises, platforms and financial institutions.

With more than 10 years of experience in cross-border payment, the company brings together experts with rich experience in various fields such as mobile Internet, cross-border e-commerce, cross-border payment, security and risk control. As one of the first domestic members to join SWIFT, the Society for Worldwide Interbank Financial Telecommunication. We have been certified by several authoritative organizations in the field of payment, finance and data security.

In August 2023, we completed tens of millions of dollars of Series A financing, invested by Virtue Capital. The funds from this round of financing will be used to accelerate the layout in cross-border B2B wind control and underlying technical capabilities, and to further meet the payment and fintech needs of cross-border outbound transactions for small and medium-sized enterprises (SMEs).

iPayLinks iPayLinks

iPayLinks was founded in early 2015, headquartered in Lujiazui, Shanghai, and is committed to building a world-class cross-border payment platform to help customers' global business development.

iPayLinks serves top aviation and travel companies, branded e-commerce, digital entertainment and other customers. The company has successively set up branches in Shenzhen, Hong Kong, Singapore, Malaysia, the UK, the US, Dubai, etc. It has the highest security certification of PCI-DSS Level-1 in the international card payment industry and multiple overseas financial payment licenses. We provide cross-border overseas enterprises with global diversified payment methods such as mainstream international credit cards and overseas local payments, and create a one-stop acquiring and issuing system. Digging deep into the industry and focusing on the region, iPayLinks has mature OTA industry-specific payment solutions, and is the first domestic fintech company to obtain a Saudi Arabia service investment license.

Skyee

Guangzhou Gaofu Information Technology Co., Ltd. was founded in 2016, headquartered in Guangzhou, and its brand Skyee is the first euro collection platform in China, a national high-tech enterprise, one of the top ten payment companies in Guangdong Province, and an innovative cross-border collection enterprise that the government focuses on supporting.

Skyee has built a global local payment and settlement business covering more than 100 countries, with business in major regions such as Asia, North America and Europe, and has set up branch organizations in the United States, the United Kingdom, Japan, Hong Kong, India and many other places. Our service products comprehensively cover cross-border e-commerce collection, enterprise foreign exchange transaction management, and global supplier payment. We customize solutions for customers on different platforms, and constantly optimize product functions with the goal of more efficiently meeting users' multifaceted business needs, creating a one-stop global funds collection and payment platform. Providing cross-border settlement services to 100,000 corporate users, Skyee has been maintaining a steady upward trend. 2021, Skyee became a member company of Lakala.

In June 2021, Skyee completed a strategic financing with Kaola Fund, an Internet industry investment fund initiated and invested by Lakala.

Qbit

Founded in 2019 and headquartered in Hangzhou, Qbit is a fintech and enterprise services company.

It is committed to providing a one-stop platform for cross-border flow of funds for enterprises, so that customers can have a more convenient, efficient and low-cost cross-border payment experience. Driven by technology, with security and compliance as the foundation, and combined with cutting-edge blockchain technology, we develop a new generation of cross-border clearing and settlement network, based on which we provide global collection, global payment, and quantum card services, covering the full range of customer needs for cross-border capital flows. By building a global one-stop financial infrastructure and empowering customers with scientific and technological innovation, we are committed to creating the world's leading efficient, convenient, high-quality and diversified cross-border financial services for overseas enterprises, and opening up the chain of enterprises' global capital flow. Currently, it serves more than 3,000 branded overseas enterprises, has localized service centers in four cities around the world, and has entered into strategic partnerships with many well-known banks and financial institutions around the world.

July 2021, completed the ten million US dollars A round of financing invested by Zhenge Fund.

Qianhai Oceanpayment

Qianhai Oceanpayment was founded in May 2014, a professional cross-border payment product platform and Internet financial innovation platform, mainly providing one-stop payment solutions for cross-border foreign trade, cross-border games, cross-border tourism, cross-border rich media and other industries.

Jointly organized by senior technical, risk control and operational experts in the field of global payment, using Hong Kong and Shenzhen dual headquarters operation mode, and in the United States, Europe, Australia, Singapore with technical & business body, is committed to cross-border foreign trade, tourism and aviation, digital games, education and training, and other Internet B2C (B) e-commerce mode to provide global digital payment technology solutions and The company has the highest level of security in the global financial industry. With the highest level of global financial industry security certification PCI DSS LEVEL 1, Visa and other certified service providers or acquirers qualification, Google Pay and Apple Pay PSPs certification, is China's only Fintech company with a full license of global digital payment technology and business qualification. It has long maintained strategic cooperation or business relationships with nearly 100 international financial institutions, supporting more than 500 payment products worldwide, covering more than 200 countries and regions, and serving hundreds of thousands of e-commerce websites around the world. Through the use of AI, Big Data and other new technology scenarios, we continue to improve the consumer payment experience and merchant revenue security.

In May 2015, it completed Pre-A round of financing, financed by Keystone Capital, with a valuation of nearly 200 million.

WorldFirst Miles

WorldFirst (WorldFirst) was founded in 2004 in London, UK, and has been committed to providing better cross-border collection, payment and redemption services for small and medium-sized enterprises (SMEs) around the globe.In 2019, it was acquired by Ant Group at a price of about $700 million, and relies on the global eco-cooperative network in the field of cross-border finance to provide more abundant product solutions and capital security.

MilesHub currently has the main business: international remittance, foreign exchange options trading, international e-commerce platform to receive and settle foreign exchange, with 18 years of cross-border payment experience, in mainland China, Hong Kong, China, Singapore, the United States, the United Kingdom, Canada, the Netherlands, Australia and other countries and regions have or through cooperation with local licensed institutions, with the qualification of the global exhibition of the business, to provide customers with capital? Security to provide a solid guarantee. We have set up offices in 19 cities in 8 countries around the world to provide more localized professional services.

PhotonPay

In November 2015, Shenzhen PhotonLeap Technology Co., Ltd. was established, launching PhotonPay, a globalized and innovative platform that highly integrates cross-border payment and international financial technology.

Through the global integration of compliance and risk management system, we are committed to providing Chinese cross-border e-commerce sellers with safe and compliant, efficient and convenient, low-cost cross-border collection, global payment, foreign exchange services and supply chain financial services. With operations in Asia, North America, the European Union, the United Kingdom and other major regions, and holding financial services licenses issued by financial regulators in the U.S. (MSB), Hong Kong (MSO) and other financial regulators, we are committed to building a global collection and settlement network to help China's cross-border trade truly reach the world. As a globalized and innovative platform that highly integrates cross-border payment and international financial technology, it has more than 100,000 cross-border business partners and handles international payment business in over 60 currencies covering more than 150 countries.

Janmi-Ping

Janmi-Ping is the aggregated payment brand of Shanghai Janmi-Network Technology Co.

Providing payment services for more than 10,000 merchants, it is a leading third-party payment solution provider in To B. In June 2016, it officially launched the paid version of its enterprise-grade aggregated payment cloud service, and in October, it was awarded the PCI certification issued by the Payment Industry Security Standards Council. By building a payment processing platform in the cloud for merchants to centrally process the transaction requests of the required third-party payment channels and provide a unified SDK interface for merchants to call, thus greatly simplifying the docking process with mobile payment channels and consumer installment channels, merchants do not need to build additional specialized payment processing systems. The multi-level merchant system provides profit-sharing models for platforms, agents and distributors and a fully open profit-sharing API, so that platform merchants can easily manage the transactions and accounts of the whole platform, and efficiently realize the account settlement of multi-level merchants. Accurately matched with a number of bank depository products, to help the platform to meet the regulation, to avoid the "two clear".

In early 2016, the company received $10 million in Series B financing led by Broadband Capital.

Gleebill Dinpay

Gleebill Dinpay, founded in 2016, is a wholly-owned subsidiary of Shenzhen Dinpay Information Technology Co. Ltd. crafted for China's cross-border e-commerce companies, and is a financial company that focuses on providing China's cross-border e-commerce sellers with a safe, stable, efficient, and cost-effective global cross-border collection solution.

The founders are from the earliest pioneers in the field of card acceptance in China, and the core management is also from the earliest senior people involved in card acceptance in China, with rich experience in the field of card acceptance. Dinpay actively expands and develops different banking channels and collection methods, and has established and maintained good partnership with many domestic and foreign banks as well as a number of international credit card organizations such as VISA, MASTER, JCB, AE, etc. Dinpay has also established and maintained good cooperation relationship with many international credit card organizations such as VISA, MASTER, JCB and AE. Through continuous integration and innovation, we have developed and launched a variety of payment functions such as international card payment, virtual account payment, pre-authorized payment, fast payment, cardless payment, etc. We have also successively launched customized services for system functions to meet the special needs of different merchants. Through the Internet technology and financial innovation to provide cross-border payment overall solution of cross-border collection, mainly for cross-border e-commerce sellers agent in North America, Europe and Japan's offshore e-commerce platforms to collect money, foreign exchange settlement, cash withdrawal and other one-stop services.

YouWorld by Me

YouWorld by Me is a cross-border payment platform founded in Shenzhen in 2016, based on the B2B2C model, connecting overseas merchants upstream and docking distribution channels downstream, and helping B-side merchants to manage and optimize the content, including discount coupons, store information, and branding, through the self-developed content management, data tracking, and clearance systems. content and distribute it through multiple channels.

Since its inception, it has launched two products and benchmarked against Square, the US mobile payment giant, to shape a new cross-border payment experience. The user group is very clear, mainly for non-local consumers around the world, such as overseas Chinese settling in China. In the early days of the company, a purely informational product was developed with the scenario of shopping and consumption as the entry point, in order to help consumers traveling and settling overseas to get brand discount information at the first time. During the epidemic, a second online payment product, "By Me Pay", was developed and operated on Alipay, WeChat, Ctrip and other Internet platforms to help Chinese residing overseas to complete transactions and enjoy certain discounts more conveniently when shopping. This product brings different conveniences to both groups, consumers and merchants. Consumers can enjoy certain discounts and avoid the inconvenience of carrying bank cards with them.

September 2021 has completed 5.5 million dollars of Series A financing, invested by GSR United Capital and Kunlun Wanwei***, of which GSR United led the investment.

Useepay

Useepay, founded in 2019, is an innovative technology brand in the field of cross-border payment, relying on the new Fintech technology and focusing on the global solution of "no-hop payment" for independent stations.

UseePay's payment success rate exceeds the industry average of 5%-7%; it supports 100 transaction currencies and 10 settlement currencies. UseePay aggregates 6 major international credit cards and a variety of localized payments. At the beginning of its establishment, the company obtained the highest security certification of PCI-DSS Level-1 in the international card payment industry. Currently, UseePay supports mainstream international credit cards, overseas localized wallets, overseas convenience stores and other payment methods, and actively builds other comprehensive payment service capabilities such as online payment, corporate wallet, global collection, batch payment, etc. The service customers cover cross-border e-commerce, aviation, hotel and tourism, transportation and travel, digital entertainment, software, education and other industries. We are committed to plowing and digging deep into our customers' industries, integrating industry resources, creating a one-stop comprehensive service platform integrating cross-border marketing, cross-border logistics, cross-border payment, etc., and assisting our customers' business development in an all-round way.

PayEase

PayEase, founded in 1998 and headquartered in Beijing, is committed to building a leading international payment platform to provide merchants with higher quality and safer payment and clearing services.

It is China's first multi-functional online payment service platform that realizes cross-bank and cross-region online transactions of various bank cards, directly connects to 23 national banks and the core payment system of China UnionPay, and supports online payment of nationally-issued bank cards and globally-issued international credit cards, including Visa, MasterCard, AE, and JCB, and provides customized electronic payment services for e-commerce enterprises using the Internet and mobile Internet. It can provide e-commerce enterprises with customized electronic payment solutions for use on the Internet and mobile Internet. Shouxin YiPay occupies core companies such as Apple, Amazon, Shopify, etc. It was issued a third-party payment business license in 2011, a pilot license for cross-border foreign exchange payment business in 2014, and a pilot license for cross-border RMB payment business in 2015.

In November 2006, it raised $14.5 million in financing, with major investors including WI Harper, Capital Information Development Co. and others, as well as individual investor Fang Guojian, chairman of Taiwan's Mai Bao.

Beepay

Beepay was founded in December 2016 in Hong Kong as a technologically innovative financial company.

Accessing the interbank foreign exchange market through cutting-edge technologies such as intelligent algorithms and big data analysis, it utilizes automated routing algorithms to penetrate the global payment network, and adopts demanding anti-money laundering risk control measures to monitor transactions, providing cross-border enterprises with high-quality compliance financial services such as payment collection, foreign exchange exchange, and cross-border settlement. It mainly targets e-commerce export trade big sellers located in China, including platform merchants and independent stations, and provides financial products and services including cross-border collections, foreign exchange transactions, foreign currency payments, RMB payments, and trade financing.

In March 2019, it completed a Pre-A round of financing of tens of millions of dollars from Linear Capital.

Easylink

In March 2019, it completed nearly 100 million yuan of Series B financing invested by CITIC Capital.

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