Guangdong's foreign trade continues to lead the country, and the Canton Fair launches WorldTrade

On April 15 , the China Import and Export Fair ( hereinafter referred to as the Canton Fair) opened as scheduled in Guangzhou. WorldFirst , a one -stop cross-border digital payment and financial service platform under Ant Group , took the theme of " connection, acceleration, and technology " and unveiled a five-in-one cross-border payment solution of "collection, payment, management, exchange, and loan". At the same time, it released the first trade fulfillment, payment and transaction guarantee product in the cross-border B2B industry, WorldTrade , which can help hundreds of thousands of sellers in the Mainland and Hong Kong to improve their cross-border payment efficiency by at least 10 times on average , greatly solving the practical pain points of merchants' difficulty in collecting payments and many frozen cards.

WorldTrade speeds up trade settlement and reduces trust costs

" The risk of domestic enterprises collecting payment during the export process is higher than ever before . " Henan Linghangtun Technology Co., Ltd. is a foreign trade enterprise engaged in surveying and mapping equipment, mainly focusing on small and medium-sized orders. Huang Chao, the business manager, said: "Because of the global inflation and economic growth rate, overseas buyers have defaulted on payments due to market changes, so it is crucial for sellers to standardize the management of contract performance and the construction of a standardized risk control system . " He added: " Through the WorldTrade service, we can receive the payment from the buyer's credit card in real time , which usually took a week in the past. Buyers and sellers can also track the entire order process, and the system automatically initiates payment to the buyer, which increases the sense of security in the business. "

In recent years, a large number of B2B foreign trade merchants inside and outside the Canton Fair have reported that due to high overseas inflation and economic growth pressure, they face many challenges in doing global business . New foreign trade formats are more diversified and more time-sensitive, which is difficult to meet with traditional foreign trade settlement methods. For example, it is difficult to open an account, the collection fee is expensive and slow, the exchange rate is difficult and costly, compliance risks, and bank cards are often frozen. These problems seriously restrict the smooth progress of transactions. Taking "frozen cards" as an example, the most direct impact is that it may cause the foreign trade capital chain to break, and serious conflicts with upstream and downstream business partners will occur, making it impossible to complete normal trade operations . In addition, in traditional cross-border trade, it is common for both parties to default on payments and delay shipments.

Merchants going overseas are in urgent need of safe, compliant, transparent, efficient and low-cost payment channels. In order to solve the trust problem between buyers and sellers in the trade chain, WorldFirst has launched "WorldTrade" based on its existing cross-border payment products, further deepening B2B trade order placement, contract fulfillment, payment and other foreign trade scenarios .

When using WorldTrade , once the trading parties establish a trade order , the system can initiate payment to the buyer based on the payment terms and time agreed in the order , avoiding the need for sellers to urge buyers to make transfers under the traditional model. It can also prevent some customers from maliciously delaying payment , thereby achieving one-stop transaction fulfillment and flexible management of payment and collection.  

Not only that, because WorldTrade's entered orders are transparent and traceable, and transaction flow information is tracked throughout the process , the authenticity of the orders is guaranteed . For both buyers and sellers, every transaction accumulates " digital credit ."

It is worth mentioning that under the traditional cross-border payment model and industry standard rates, it takes about 1-7 days for a B2B export trade payment to be transferred to the overseas account of a small and medium-sized foreign trade enterprise by a bank, and 1-2 hours at the fastest by digital means , with a handling fee rate of about 3 % . However, through the payment service provided by WorldTrade, overseas buyers can choose credit card/debit card/World Trade Global Account (World Trade   The circulation of trade payment is greatly simplified. It can be remitted to the receiving account of foreign trade enterprises in real time and enjoy a competitive payment rate of 2.9 % .   When you use WorldTrade, you will save more handling fees and exchange costs. For example, for a small and micro foreign trade enterprise with an annual B2B payment of 10 million US dollars, using WorldTrade can save it at least 10,000 US dollars in handling fees.

Relying on the digital technology capabilities of Wanlihui , WorldTrade 's digital order management and payment services make the entire transaction safe and transparent , enhance mutual trust, and are expected to help hundreds of thousands of B2B sellers speed up trade settlement and reduce trust costs . Each transaction automatically integrates data such as capital flow, information flow, logistics, and customs affairs, which not only ensures the safety and compliance of cross-border capital flows, but also precipitates credit to enable small and medium-sized foreign trade enterprises to better obtain financial and other ecological services . In addition, WorldTrade's intelligent capital management mechanism can automatically match the incoming funds with the corresponding order information, and combined with intelligent predictions, recommend the best time to settle foreign exchange so that users can enjoy more convenient and preferential exchange rates.

Guangdong's foreign trade continues to lead the country, Wanlihui's "Spring Festival" cheers up domestic merchants

According to the performance of Wanlihui 's domestic sellers' export payment data in 2023, the Pearl River Delta is still the well-deserved first base for China's exports. Guangdong leads the national market and grows steadily, with a year-on-year increase of 56%. As China's first exhibition, in order to help Chinese foreign trade sellers cope with the peak of stocking in March and April, Wanlihui launched the "April Spring Festival" promotion before the Canton Fair: from the opening of the Canton Fair to May 15, customers who make their first deposit can enjoy the first settlement transaction of less than RMB 100,000 free of handling fees; customers who make any deposit during the event can enjoy a limited-time fee rate of 0.3% or more; WorldTrade payment fees are preferentially reduced to 2.5%; the annualized interest rate of foreign trade loans is reduced to 5.3%, and can be borrowed and repaid at any time, and interest is calculated on a daily basis; it also supports exclusive settlement to Alipay and direct purchase of foreign currency from 1688. Let small and medium-sized foreign trade enterprises truly realize worry-free collection and turnover.

Since joining Ant Group in 2019 , WolrdFirst has been focusing on the realization of core functions in cross-border payments, from cross-border payments to a series of subsequent financial services , providing Chinese small and medium-sized foreign trade companies with a safer, compliant, transparent and efficient financial service channel for going overseas. Backed by the technical chassis of Ant and Alipay, WolrdFirst is innovating in accordance with local conditions in the overseas scenarios through technological iterations, upgrading the convenience and security of transaction landing.

Based on reliable risk control and compliance capabilities, WorldFirst cooperates with world-renowned banks and overseas local banks to support easy local collection of more than 30 currencies (including UAE Dirham, Mexican Peso and some African currencies), and its services reach more than 200 countries and regions around the world. WorldFirst's cumulative global transaction amount exceeds US$200 billion. More than 1 million small and medium-sized enterprises have achieved " one account to sell globally " and obtained one-stop services of "collection, payment, management, exchange and loan" , with 0 account opening fee, 0 management fee, 0 entry fee and 0 exchange loss.

In addition, WorldFirst and China Supply Chain are working together to help small and medium-sized sellers sail around the world with their ecosystem. In 2019 , they jointly launched the "Cross-border Treasure" product with 1688, taking the lead in helping cross-border e-commerce sellers and purchasing agents to purchase 1688 goods in foreign currency, with a cumulative transaction volume of nearly RMB 100 billion to date . In 2023 , they joined forces with nearly 90 ecological service providers, including procurement, advertising, taxation, warehousing, logistics and other links to go overseas, and launched the "Eco-payment" that can solve problems in one stop. It is understood that on May 8 , WorldFirst will launch its 20th anniversary ecological conference in Shenzhen, combining the power of the ecosystem to help Chinese companies go overseas.

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