How can you collect foreign trade payments safely, quickly and economically? Get this magic tool quickly

Not long ago, Sri Lanka declared bankruptcy, and foreign trade companies with it are on the verge of collapse. Relevant departments remind that foreign trade companies exporting to countries such as Sri Lanka where there is a shortage of foreign exchange should be careful of buyers abandoning goods and collecting foreign exchange risks to avoid losses.

Since the outbreak of the epidemic, the foreign trade market has been volatile. Due to order delays, exchange rate fluctuations and other factors, foreign trade companies have suffered losses from time to time . Either there are no orders, or there are goods that cannot be shipped, or they are faced with the embarrassing situation of losing money on shipments ... This has become the norm in the foreign trade circle . Some people say that if you have orders that do not lose money this year, you should be happy!

Having said that, facing the current predicament, how to reduce risks is what we should focus on now. In fact , foreign trade people have experienced a lot of " wind and rain " over the years, and stabilizing themselves and controlling the existing foreign trade risks to survive the crisis or find opportunities in the crisis naturally become their important tasks when they go through "wind and rain". When it comes to risks, everyone knows that the most likely link to go wrong is the collection of payments.

For a foreign trade order, there are two things that everyone cares about most: one is the transaction price, which determines how much profit the order can bring. The other more important thing is the payment. Only when the money is collected can it be considered safe. Safe payment is the guarantee for foreign traders; only when the money is collected faster can the next business opportunity be seized earlier. Fast payment is the confidence of foreign traders.

So, how can we collect foreign trade payments safely and quickly? Here I recommend a foreign trade payment tool that many foreign trade people use - WorldFirst foreign trade B2B payment product.

Ant Financial, safe and reliable

Security issues are always a big sword hanging over the heads of foreign trade people. In foreign trade business, a single order can easily cost hundreds of thousands or even millions of dollars, and payment is usually made in T/T mode (30% deposit + 70% balance, or even 20% + 80%). In the process of trading, there are always many uncertain risks, especially in market conditions like this year. Failure to collect payment or delayed payment is a huge blow to foreign traders. Therefore , for foreign traders, receiving payment safely is even more important than order volume.

In April this year , WorldFirst, a subsidiary of Ant Group, upgraded its one-stop payment product for foreign trade B2B enterprises. As a platform with 18 years of cross-border payment experience, security and reliability are WorldFirst's most significant advantages.

For foreign trade enterprises, the most fearful thing is to encounter business suspension due to regulatory issues, resulting in risks such as fund freezing. Wanlihui has payment licenses in many countries and regions such as China, Hong Kong, Macao, the United Kingdom, the United States, the Netherlands, Luxembourg, Australia, Singapore, Canada, Malaysia, the Philippines, Thailand, Vietnam, Japan, etc., or cooperates with local licensed institutions, and has the qualifications to conduct business legally and in compliance with regulations, providing solid protection for the business development and fund security of foreign trade enterprises.

In terms of security protection, the intelligent risk control engine independently developed by Wanlihui can identify users and verify the authenticity of enterprises based on trusted internal and external information sources. All operations must be carried out by the user's instructions. Without authorization and direct instructions, no third party can operate on user and enterprise funds. At the same time, it can also realize dynamic data monitoring of funds, perceive changes in the customer's operating environment in real time, identify account fund risks, and provide all-round protection for the fund security of foreign trade enterprises.

Wanlihui has also established an international high-standard compliance team, strictly follows international anti-money laundering and anti-terrorist financing standards, strictly follows the requirements of relevant laws and regulations , guards against financial risks, and further enhances the sense of security of foreign trade companies.

It is understood that Ant Group also has digital banking licenses in Hong Kong, Macau and Singapore , and can provide foreign trade companies with a variety of innovative and secure digital financial services, helping them to upgrade their digitalization and global development.

Receive and pay money quickly

Another long-standing problem for foreign trade companies in cross-border payment collection is that the payment is too slow, resulting in a long capital recovery cycle. Especially for small and medium-sized foreign trade companies with small orders and dispersed funds, the capital pressure is more obvious this year due to the slowdown in order growth and high freight costs. Once the capital chain breaks, large companies with strong financial resources may be able to hold on, but for small and medium-sized foreign trade companies, the capital chain is the lifeline.

Wanlihui understands that the turnover efficiency of funds is very important for foreign trade companies. It is not only safe, but also necessary to collect money quickly. Wanlihui supports local collection accounts and global multi-currency accounts in Hong Kong, China or Singapore. The collection time is usually within 1-5 working days, which is on average more than two days faster than traditional overseas banks. Local collection accounts will be even faster.

At the same time, Wanlihui allows users to apply online for collection accounts in fourteen commonly used currencies in seconds, including US dollars, euros, British pounds, RMB, Canadian dollars, New Zealand dollars, Singapore dollars, Japanese yen, Australian dollars, Hong Kong dollars, Swiss francs, Swedish kronor, Polish zlotys, UAE dirhams, etc., basically covering major markets around the world.

In terms of payment, Wanlihui's payment efficiency can reach the fastest within 1 minute! And unlike traditional overseas banks that have to postpone processing during holidays , Wanlihui can pay anytime and anywhere on weekends and holidays. In addition, as a sub-brand of Ant, Wanlihui exclusively supports withdrawals to Alipay accounts and supports one-click direct payment to 1688, which is not available on other payment platforms.

Want to know more about WorldFirst's B2B foreign trade payment products? Add WorldFirst's WeChat ID (worldfirstwan) and we will answer your questions one-on-one !

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