Third-party Payment In The Internationalization Of the RMB

Online, April 5, 2012 (Newswire.com) - The necessity of RMB's settlement system requires domestic third-party payment enterprises to participate in cross-border online transactions. This is a long way along with the internationalization of the RMB.

Since there are many payment methods in the international trade, how to make their products attractive is the prior concern of the companies. After comparing several payment methods, the reporter found that online payment service provided by third-party payment is the most convenient.

To begin with, the use of third-party payment instruments can shorten trading hours, which makes it more efficient and fast. Mr. Lee has been engaged in foreign trade business in Chengdu for several years and has the attorney ship of several famous overseas brands. He obtained a power of attorney of several well-known foreign brands. The relatively large flow of funds made him concerned about cross-border transactions of third-party payment, i.e.,Yeepay, Alipay and GlobeBill(www.globebill.com) Mr. Lee said that: "through GlobeBill, companies can save a lot of time running business of foreign currency exchange fee of banks and the capital cost; besides, the transfer can also avoid the risk of exchange fluctuations rate prior to use bank transfer."

What's more, payment instruments provided by third-party payment companies have a relatively higher success rate. In accordance with the publicly accessible data, third-party payments' over 90% success rate has made it a toast of the Chinese foreign trade company.

The last, the use of payment instruments of the third-party payment companies can reduce the risk of both buyers and sellers. When using third-party payment transaction, the buyer may require reversals in a certain number of days after the payment advice, i.e., non-payment. For the buyer there were little risk costs using a third-party payment instruments in the third party payment; for the seller, third-party payment companies also offer protection services.
　　
However, if you were a user of a credit card payment gateway, when the buyer that delivery delays for the problems of quality or quantity, though the buyer can also apply to the bank to refuse to pay bill transactions, there still exists the possibility of 　　arbitration failure and a black record of the payer.

Using Western Union MoneyGram or other line payment services, while remittances will reach the seller's account in just minutes, the seller is still in the vantage point　　

At present, most of cross-border online funds have been transferred through a third party payment platform. With the characteristics of convenience, safety, and low cost, the popularity of third-party payment instruments will eventually become a trend.