Geoswift obtained a national license from the State Administration of Foreign Exchange (SAFE), the regulatory body of the People's Bank of China (PBoC), in 2007. Geoswift became one of the few foreign companies to provide retail currency exchange services in China. About Geoswift
product 1. Cross-border acquiring (1) Overview: Geoswift's payment gateway provides a variety of access solutions, from e-wallets, bank card networks, electronic banking to bank transfers. Merchants or non-bank payment institutions can receive RMB through Geoswift's payment gateway. Geoswift will convert RMB into foreign currency and settle for you in accordance with the law. (2) Features: Seamless single API integration; support for multiple currency settlements; support for T+1 settlement cycle; customized solutions: e-commerce, education industry, and tourism industry; customer funds separation; comprehensive reporting; fraud detection; PCI certification. 2. Cross-border payments (1) Overview: Geoswift's multi-channel payment interaction system connects global businesses and individuals to multiple domestic payment service providers and banking networks. Through Geoswift's products, each payment transaction (based on its nature) will be automatically directed to the most suitable channel to achieve a higher success rate. (2) Features: Supports payments to companies or individuals; low-cost large-scale payments; seamless single API integration; multiple currency pairings and better exchange rates; large domestic network; local Chinese compliance team to adapt to rapid regulatory changes; anti-money laundering (AML) and sanctions screening solutions to effectively monitor funds and payees and payees; PCI certification. 3. Remittance (personal transfer) (1) Overview: Geoswift's remittance platform connects you to more than 90% of local banks in China. Geoswift is continuously expanding its domestic service scope. (2) Features: Seamless single API integration; fast transfers; favorable foreign exchange rates; high bank coverage; remittance status query; flexible solutions to meet customer needs. 4. Prepaid cards and virtual accounts (1) Overview: Geoswift provides prepaid card and virtual account solutions as a settlement and payment method. (2) Features: Covering the global card network; supporting multiple currencies; currency exchange within the wallet; one-time virtual credit card. Solution Huiyuantong specializes in customizing low-cost, fast and easy-to-use cross-border payment solutions for three major industries. 1. E-commerce industry Driven by globalization and technological advances over the past few decades, the number of cross-border purchases made through e-commerce platforms has increased significantly. This is particularly evident in China, one of the largest and fastest-growing e-commerce markets in the world. Geoswift will not only help capture the opportunities in China by providing a more efficient and seamless cross-border payment process, but more importantly, it will optimize the entire online shopping experience and maximize currency conversion, retention and sales revenue. 2. Education Industry Driven by globalization and global citizen mobility, more and more Chinese students are going abroad for education. However, language barriers, cultural differences, and the ever-changing monetary policy and financial regulation in China can all lead to issues with cross-border tuition payment. Geoswift not only increases your share of the international education market by providing a more efficient and seamless cross-border payment process, but also provides convenience and peace of mind for Chinese students and their families. 3. Tourism industry China's economic boom has fueled the expansion of the middle class, which is willing to spend more on travel. At the same time, China is becoming one of the most sought-after destinations for business and leisure. Geoswift not only captures the growing opportunities in China by providing a more efficient and seamless cross-border payment process, but also provides more convenience and peace of mind to travelers. |
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