Cross border payment companies encompass companies operating across consumer money transfers and remittances, B2B payments, payment processers, and mobile payment players.
For the past 15 years, China has experienced an cross border ecommerce boom, helped by eBay, Wish and Amazon onboarding China sellers. The
industry was already growing rapidly but the pandemic and emergence of new platforms (SHEIN, Temu, AliExpress, TikTok Shop) further push new
opportunities for the payment space. Additionally, China being an export powerhouse in the 2B
space (in areas such as machinery, electronics, general goods etc) has seen a new crop of payment
providers. A shift from legacy platforms and paper based payment processes to open banking and
APIs.
Major Companies in the Cross Border Payment Sector
The companies in this space includes the international players such as Visa, Stripe, Payoneer, PayPal, Wise, Worldpay, TransferMate Global Payments as well
as the list below:
Ant Group: Leading Digital Payment Platform
Ant Group as part of Alibaba Group was established in 2004. Ant Group is a prominent player in the cross border payment landscape in Asia Pacific. The company operates one of China’s largest digital payment platforms Alipay, which has over 1 billion users. Ant Group offers Alipay+ a platform offering payment and digitalization solutions. It connects over 88 million merchants in 57 countries to 1.5 billion customer accounts on over 25 e-wallets and banking apps.
WeChat Pay: Integral Part of WeChat with 1.3 Billion Users
Tencent’s WeChat Pay, the payment solution and digital wallet in Wechat has a combined 1.3 billion monthly active users. Since 2016, Tencent’s Tenpay Global, its cross border payment business has taken a collaborative model, partnering with 40 remittance partners. The integration allows recipients in the Chinese Mainland to receive monies to their digital wallet from over 60 countries.
🔗 Learn more about Tenpay Global at
tenpayglobal.com
LianLian DigiTech: Global Payment Solutions Provider
LianLian Global DigiTech, founded in 2009 in Hangzhou China, is one of the first digital technology companies in China to provide comprehensive payment solutions globally. Primarily focused on payment processing, financial technology solutions, and cross border ecommerce payments. Its end to end B2B payments solutions has serviced 3.2 million globally.
PingPong Payments: Payment Solutions for International Trade
PingPong Payments is a fintech company that provides cross border payments solutions for ecommerce sellers and other business engaged in international trade. Founded 2015 in Hangzhou China, it provides a robust solution for handling the complexities of international payments, serving over one million cross-border sellers globally.
XTransfer: Cross-border financial services for SMEs
XTransfer founded in 2017, is a financial technology company specializing in providing cross border financial services for small and medium sized enterprises (SMEs) involved in international trade. The AML and risk compliant solution, provide cross-border payments solutions, multi-currency accounts and cost effective services to their customers. Headquartered in Shanghai China, it has branches in Hong Kong, UK, Netherlands, USA, Canada, Japan, Australia and Singapore. It has more than 450,000 enterprise clients globally.
Airwallex: Affordable business payment solutions provider
Airwallex , founded in 2015, develops a financial platform focusing on providing business payment solutions affordable for businesses. Airwallex started in Australia, now headquartered in Singapore has more than 100,000 business customers including brands such as Brex, Rippling, Navan, Qantas and SHEIN.
SUNRATE: Global payment and treasury management platform
SUNRATE , founded in 2016, is an global payment and treasury management platform for businesses worldwide. Sunrate allows businesses to make payments to more than 190 countries. Headquartered in Singapore with branches in Hong Kong, Jakarta, London and Shanghai.
🔗 Learn more about Sunrate at sunrate.com
Xendit: Secure and easy payment gateway for Southeast Asia
Xendit , founded in 2014, offers a payment gateway uniquely build for Indonesia, Philippines, Thailand and Malaysia. The payment gateway helps businesses make payments simple, secure and easy for customers. Servicing 3,000 businesses in 20 sectors, their customers include Grab, Traveloka, Halodoc, Ninja Van, ShopBack, etc.
Oceanpayment: One-stop Payment Solutions for Merchants.
Oceanpayment, founded in 2014, offer global B2C and B2B merchants with one-stop cross-border payment solutions. Headquartered in Hong Kong, with offices in Shenzhen, it now covers 200 regions globally, providing solutions to connect merchants with consumers.
Coralglobal: Payment processing for Chinese export companies
Coralglobal, founded in 2016, provides payment processing platform for cross border sellers. The company headquartered in Hangzhou China, it provides fund settlement for Chinese export companies in markets such North America, Europe and South East Asia.
🔗 Learn more about Coralglobal at coralglobal.cn
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