B2B payments company CSI globalVCard has collaborated with E-Life Financial Holdings, a Beijing-based subsidiary of HNA Group, to expand its services to China.
Under the partnership, CSI globalVCard will use E-Life’s payment issuance capacity for in-country payments and direct settlements through all major banks in China.
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CSI globalVCard said that its automated, paperless payments platform will enable customers to have the control and visibility in a single platform.
With this partnership, customers do not need to pay sign-up fee for implementing CSI globalVCard’s China in-country payments that will support payments to nearly all Chinese banks. The solution will allow same-day transactions for major banks and next business day transactions for other banks.
CSI globalVCard vice president of international payments Jia Liu said: “Expansion into China is a natural progression for CSI globalVCard as our Chinese and multinational clients see strong demand from the $1.8 trillion Chinese internet finance market.
“China’s FinTech industry is rapidly outpacing any other market in the world, and our clients need seamless, central visibility, and customer service within China’s five time zones.”
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By GlobalDataE-Life Financial CEO James Chen said: “At the same time, E-Life Financial wishes to provide high-class service for domestic and foreign customers with the advantages of its full license qualifications, distribution channels, and strong clearing capabilities.
“As internationalization leads to ascending trends on cross-border payments, cooperation both domestically and internationally has become more and more important for E-Life Financial in offering customers a seamless experience and providing solutions for cross-border payments.”
