XTransfer, a leading B2B cross-border trade payment platform, debuts in Thailand at “STYLE Bangkok 2024″, offers innovative payment solutions to promote trade between China and Thailand.
According to statistics from the Ministry of Commerce of China, in 2023, Thailand was China‘s fourth-largest trading partner within ASEAN, the fourth-largest export and import market, while China was Thailand‘s largest trading partner. According to data from XTransfer, the total amount of money collected by the Chinese foreign trade SMEs from Thailand in the first two months of 2024 has increased by 32.5% compared to the same period last year. With frequent trade between the two countries, XTransfer aims to provide convenient and fast payment solutions for China seller and their Thai buyers.
XTransfer, a leading B2B cross-border trade payment platform, made its debut at the “STYLE Bangkok 2024” trade show in Thailand. The event is Asia’s premier lifestyle and fashion trade show with over 500 exhibitors and more than 1,000 booths. XTransfer aims to promote trade between China and Thailand by offering secure and convenient cross-border payment solutions to small and medium-sized enterprises.
XTransfer, with the help of Deutsche Bank, obtained the Non-Resident Qualified Company (NRQC) status from the Bank of Thailand last month, making it the first company in Thailand to receive this status. XTransfer, along with Deutsche Bank, can now facilitate payments between Chinese and Thai foreign trade enterprises. Thai buyers can pay Chinese suppliers in Thai baht through the local payment system PromptPay, while XTransfer’s Chinese supplier clients can receive funds instantly. This process ensures fast, secure, and compliant transactions, while also saving Thai buyers on cross-border remittance fees.
Source : XTransfer Joins in Thailand “STYLE Bangkok 2024″
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