To promote cross-border trade facilitation, XTransfer and X2X payment appeared at the 136th Canton Fair

On October 15, the 136th Canton Fair opened in Guangzhou. XTransfer, China's No. 1 B2B foreign trade financial platform, made its debut at the Canton Fair with X2X payment, helping small and medium-sized trading companies around the world to set sail.

The Canton Fair is known as the "weather vane" of foreign trade and is an important window for observing the Chinese economy and global trade. The scale of this year's Canton Fair has reached a new high, with the total exhibition area expanded to 1.55 million square meters, and exhibits from all over the world have appeared in Guangzhou. This not only demonstrates the strong appeal of China's foreign trade, but also reflects the important role of the Canton Fair as an international trade platform.

XTransfer has been focusing on B2B foreign trade payment collection for 8 consecutive years, and has long become an "old friend" of many global trading companies. At present, XTransfer has served more than 550,000 small and medium-sized foreign trade companies in China. In terms of the scale of customer service, it is the No. 1 B2B foreign trade financial platform in China. XTransfer has been committed to helping small and medium-sized foreign trade companies improve the convenience of global payment and collection. At present, there are more than 30 global and local payment accounts for foreign trade companies to choose from, covering more than 200 countries and regions around the world.

At this Canton Fair, XTransfer and X2X payment made a grand appearance, helping global trading companies to conduct business more conveniently. In the past, traditional cross-border trade settlement mainly relied on bank wire transfers, which may involve multiple intermediary banks and generally take 3-7 working days to process. If the bank has doubts about the merchant's transaction, it will involve a review of the order, which may take a month or even several months to process. For small and medium-sized enterprises, the inability to recover funds may pose a threat to the survival and development of the enterprise.

Lu Bin, founder of Dongguan Hongjin Industrial Co., Ltd., who has participated in the Canton Fair 20 times, said: "We have been using XTransfer's services since 2018. For our newly developed overseas customers, we will give priority to using XTransfer for foreign trade payment collection. Even some old customers who used to receive payments through traditional banks have now transferred to the XTransfer platform. Compared with traditional international wire transfers, XTransfer's payment collection time is faster and more convenient, and it can also save us a lot of handling fees. Now, we are more willing to introduce buyers to use XTransfer together."

While helping sellers solve the problem of collecting payments, XTransfer is also working hard to serve global buyers. XTransfer officially launched its international services last year, and trading companies around the world have begun using XTransfer. Both buyers and sellers use XTransfer accounts to receive and pay, which is called X2X payment, short for "XTransfer to XTransfer payment". It can achieve 7*24 hours of safe and compliant trade funds arriving in seconds without any handling fees, and realize the unimpeded flow of trade funds throughout the entire process. According to XTransfer related persons, XTransfer has currently served tens of thousands of overseas trading companies, and in the future, global buyers and sellers will jointly enjoy the ultimate convenience brought by the XTransfer platform.

Li Pengsen, chairman of Hebei Aoweisen Industrial Group Co., Ltd., is a trader participating in this year's Canton Fair. She has been engaged in African trade for more than ten years. She said: "Many African buyers will tell us when they are about to pay that they really cannot exchange dollars in the near future, but there are 'channels' to pay directly to our domestic bank cards. Once we do this, we face the risk of freezing our cards, which is very risky."

According to Li Pengsen, in the past, the company had fallen into many traps in cross-border trade settlement. As a small business, there are indeed obvious pain points, and it is difficult to obtain high-quality services from large banking institutions. After choosing XTransfer as a stable foreign trade payment tool, this problem was solved. With the long-term accumulation of trust, Li Pengsen is happy to introduce XTransfer to his overseas buyers, hoping to achieve 7*24 hours barrier-free payment and collection between buyers.

The Canton Fair "never ends", and win-win cooperation benefits all parties. The Canton Fair this year presented a scene of "visitors from all directions and merchants gathered", further explaining the influence of China's foreign trade on global trade. As China's first B2B foreign trade financial platform, in the future, XTransfer will continue to promote cross-border trade facilitation and help global small and medium-sized enterprises release greater value in international trade.

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