What is CaresPAY cross-border payment? CaresPAY cross-border payment Review, Features

CaresPAY is an innovative multinational financial technology company that provides global payment acceptance technology and financial solutions to merchants around the world. Founded in 2010, it is one of the earliest companies in China to engage in cross-border e-commerce payments. The company is headquartered in Shenzhen, China, with branches in the United States and Hong Kong.

About CaresPAY

CaresPAY is determined to build a safe, efficient, professional and open cross-border e-commerce financial platform. It is committed to improving the capital turnover rate of cross-border e-commerce and helping Chinese manufacturing to enhance its global competitiveness.

CaresPAY provides a complete service end for China's cross-border e-commerce; strengthens the construction of the technical end, implements risk control solutions based on artificial intelligence, increases the global coverage of China's cross-border e-commerce, further shortens the distance between cross-border e-commerce sellers and platforms, and strengthens the cooperation between domestic and foreign financial institutions.

Products and Services

1. Platform payment

(1) Supported platforms: Amazon US, Amazon Europe, Amazon India, eBay, and Wish.

(2) Product advantages: transparent rates, capped at 0.7%; fully online account opening, multi-account management, support for domestic and foreign corporate and personal account withdrawals; T+1 arrival, fastest T+0, guaranteed timeliness, and twice as fast capital turnover; one-to-one customer service, connected to domestic exclusive customer service, and quick response.

2. Cross-border acquiring

(1) Supported major credit cards: Visa, JCB, Mastercard.

(2) Product advantages: Mycoffee firewall ensures that the payment gateway is free from viruses and hacker attacks, ensuring transaction security; MD5 ensures that merchant orders are not tampered with, protecting the interests of merchants; PCI certification sets security requirements for institutions involved in credit card information; digital signature certification ensures the integrity and authenticity of information during transmission; SSL certificate (256-bit), all https requests and Web server requests will automatically use SSL encryption.

3. B2B cross-border payment collection

4. Value-added services: international card acquiring, financing loans, overseas payments, etc.

Service Process

Register a CaresPAY account -- Bind your store -- Withdraw cash from your CaresPAY account to your bank account.

Information required to register a CaresPAY account

1. Personal account:

The mobile phone number and email address used to register the account;

·Color photocopy of the front and back of your ID card;

·A photo of the registrant holding his/her ID card and showing his/her face;

Payment authorization information of e-commerce platform stores;

·The registrant’s domestic bank account information for receiving payments.

2. Mainland corporate accounts:

The mobile phone number and email address used to register the account;

·Color photocopy of the front and back of the legal representative’s ID card;

·Color photocopy of the business license;

·A photocopy of the legal representative’s ID card;

Payment authorization information of e-commerce platform stores;

· Domestic bank account information of the enterprise;

·Photocopy of the front/back of the ID card of shareholders holding 25% or more of the shares;

After the initial review, you may need to upload the company's articles of association and equity structure diagram;

If RMB is eventually required to be credited to the company's public account, the company needs to register for the [Trade Foreign Exchange Receipts and Payments Enterprise Directory] (except in Shenzhen, where the [Trade Foreign Exchange Receipts and Payments Enterprise Directory] requires the company to register for [Foreign Trade Operator Registration].

3. Hong Kong corporate account:

·The mainland China mobile phone number and email address used to register the account;

·Photocopy of business registration certificate;

·Photocopy of the company registration certificate;

·Photocopy of the incorporation form;

· Photocopy of the director’s identity information (one of the following: Hong Kong permanent identity card/passport/second generation identity card);

Payment authorization information of e-commerce platform stores;

·Corporate Hong Kong receiving bank account information;

· Photocopy of information of shareholders holding 25% or more of the shares (one of the following: Hong Kong permanent identity card/passport/second generation identity card);

After the initial review, you may be asked to upload the company's articles of association, shareholding structure diagram and address proof documents.

Note: Please ensure that the photocopies provided are photocopies of the original documents and are within the validity period. The photocopies are clear and legible, and the size of a single file does not exceed 5M. The file format is bmp, png, jpeg, jpg.

Features

CaresPAY holds the US MSB and Hong Kong MSO payment licenses, and is regulated by US and Hong Kong financial institutions and domestic and overseas banks, so its security is guaranteed; Amazon's fee rate is capped at 0.5%, 100% guaranteed to be zero exchange loss, and there are no additional fees, truly achieving ultra-low fees and transparent exchange losses; CaresPAY's withdrawals include automatic withdrawals and manual withdrawals, and sellers can choose the withdrawal method according to their needs; CaresPAY has launched advance withdrawals and a daily interest-free service. Once the Amazon bill is out, customers only need to click to withdraw, and the funds will be credited immediately. There is no need to wait or worry. CaresPAY will advance the money for customers, allowing them to turn their funds twice as fast as others.

FAQ

Q: What payment platforms does CaresPAY support?

A: CaresPAY supports payment collection services on Amazon North America, Amazon Europe, Amazon India, eBay, and Wish. We will notify you as soon as new platforms are added.

Q: Why do I need to prepare store, real-name authentication, and withdrawal account information at one time?

A: In order to save your time, we have simplified the review submission process and will review your store, real-name authentication, and withdrawal account information at one time.

Q: After I register a CaresPAY account, how long will it take for me to be assigned a payment account?

A: After you submit all the information according to the CaresPAY system instructions, if the account you applied for is not a GBP account, the information review will be completed within 1-2 working days; if the account you applied for is a GBP account, the information review will be completed within 3-4 working days. Please wait patiently. After all the reviews are passed, a receiving account will be assigned to you. You can log in to the CaresPAY backend to view the details of the receiving account.

Q: Is the information I provided to CaresPAY when registering safe?

A: We have the highest level management system of PCI-certified financial institutions. We will strictly encrypt and protect your registration information, and guarantee that your information will not be provided to any organization or individual not related to the payment collection service, nor will we use business information for any other commercial purposes other than payment collection.

Q: Is there any fee to register a CaresPAY account?

A: There is no fee to register and hold a CaresPAY account. The capped fee of 0.7% covers all costs from deposit to withdrawal.

Q: Where can I modify my information?

A: Your registered entity information cannot be changed (personal registration ID information, company business license number). You can click [Account Center] - [Personal Center] on the CaresPAY homepage to modify your bound mobile phone number and email address.

Q: Can CaresPAY help independent websites collect payments?

A: CaresPAY provides payment collection services for independent sites. Please contact customer service or your account manager for details.

Q: How long does it take to withdraw money from CaresPAY?

A: The withdrawal time of CaresPAY is generally 1-2 working days. If you withdraw before 10 am on a working day, the funds will be credited to your account on the same day.

Q: Is there a limit on withdrawals from CaresPAY?

A: Currently, CaresPAY only supports final payment in RMB and USD (withdrawals to Hong Kong bank accounts), with a minimum withdrawal amount of USD 50. More currencies will be supported in the future. If you need to withdraw non-USD currencies to a Hong Kong account, please contact the CaresPAY customer service team.

Q: Which domestic bank accounts does CaresPAY support cash withdrawals?

A: CaresPAY supports most domestic savings cards (except for a few small rural credit cooperatives). It is recommended to use a Class A card issued by a national commercial bank (with no transfer limit).