Pyvio selects Currencycloud to deliver cross-border payments for Chinese merchants
Currencycloud, experts simplifying business in a multi-currency world, and Pyvio (Hong Kong), the fintech building ‘Glocal’ financial services infrastructure, have announced a partnership offering efficient and cost-effective cross-border payment solutions for Chinese e-commerce businesses operating in emerging markets.
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The partnership will allow Pyvio to leverage Currencycloud’s technology to collect and pay funds in over 180 countries and more than 30 currencies, including CNH and CNY.
One of the main challenges faced by Chinese online merchants is the payment collection and payout process in different markets, especially in emerging regions where infrastructure is not well-developed and ensuring compliance in payments can be challenging in a complex regulatory landscape.
By partnering with Currencycloud, Pyvio aims to build on its underlying business strategy of leveraging best-in-class partnerships with other licensed financial institutions to address payment challenges and provide a bespoke service for each merchant according to their specific needs and preferences.
Rohit Narang, Managing Director, 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, said: “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”.