What is overseas payment?
Overseas payment refers to the cross-border transfer of funds between two or more countries or regions due to international trade, international investment or other transactions with the help of certain settlement tools and payment systems.
For a simple example, a cross-border e-commerce merchant sells his goods to consumers in overseas markets through an e-commerce platform, and these consumers will use overseas payment tools such as visa, PayPal and Stripe. When purchasing, they may pay in multiple currencies, such as US dollars, British pounds, euros, Japanese yen, Canadian dollars and so on. But as e-commerce merchants, they only accept legal RMB in China. At this time, it is necessary to use relevant settlement tools and payment systems to provide payment channels for overseas consumers, and then convert foreign currency into RMB for domestic merchants to settle accounts and complete the whole transaction.
How to access overseas payment?
First of all, there are some international credit cards, such as Visa, Master, AE (American Express), JCB, DC and so on. Their payment channels are usually provided by third-party payment institutions. Their overseas payment interfaces do not directly face customers, but are basically directly connected through third-party payment companies or overseas acquiring institutions.
Second, the qualifications required for access. For domestic companies, they generally need "three certificates": business license, organization code certificate, tax registration certificate, and may also need bank account opening license and legal person ID card; Overseas companies generally need to provide company registration information form, registration certificate, legal person passport and settlement bank information, which may be different in different regions. In addition, some industries may need to provide industry-related certification, such as air travel industry and medical industry.
As for access, it is generally necessary to provide technical docking documents such as API, SDK and cashier. This requires cross-border businesses to have the ability to correlate. However, if you entrust a visitor to push such a technology company, you will save these cumbersome things, and generally you don't need to do it yourself.
How long does it take to access overseas payment?
It takes about 1 day for a general merchant to go through the normal signing process, 3 working days for the application channel, and 5 working days for the docking, and it can only go online after the test.