Currencycloud has teamed up with Pyvio (Hong Kong) to offer efficient and cost-effective cross-border payment solutions for Chinese e-commerce businesses operating in emerging markets.
One of the main challenges faced by Chinese online merchants is the payment collection and payout process in different markets. This is especially so in emerging regions where infrastructure is not well-developed. Moreover, ensuring compliance in payments can be challenging in a complex regulatory landscape.
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By partnering with Currencycloud, Pyvio aims to build on its underlying business strategy. That is to leverage best-in-class partnerships with other licensed financial institutions to address payment challenges. And to provide a bespoke service for each merchant according to their specific needs and preferences.
Rohit Narang, MD, Currencycloud, APAC, said: “Pyvio is a fast-growing business in an exciting space. For Chinese firms, the challenges they face in the payment collection and payout process are a real blocker to expansion. So, the solution that the Pyvio team has built is much needed. This partnership will help the Pyvio team further disrupt the online e-commerce payment landscape in emerging markets, and we look forward to being on that journey with them”.
Li Kai, CEO of Pyvio, added: “We are very excited to partner with Currencycloud as a new solution for online e-commerce businesses in emerging markets. Our solution will help Chinese e-commerce merchants overcome the barriers and challenges to global growth and boost their sales and revenue. We are also committed to constantly improving our service and adding more features and functions to meet the evolving needs and demands of our customers”.
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