HO CHI MINH CITY, Vietnam, Dec. 28, 2023 /PRNewswire/ -- XTransfer, World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, made its debut last week at the VietBuild Home International Exhibition 2023 (VietBuild HCMC) held in Ho Chi Minh City, marking XTransfer's first step of globalisation. Since the launch of its international services, XTransfer has received numerous inquiries and feedback from Vietnamese foreign trade companies. This visit to Vietnam aims to bring innovative solutions with local licensed financial institution partners in the field of cross-border payments to Vietnamese foreign trade enterprises and support their global expansion.
VietBuild HCMC, as the largest and most professional building materials and hardware exhibition organized by the Vietnamese government, enjoys a high reputation domestically and internationally. It attracts renowned manufacturers and industry professionals from around the world. The exhibition not only showcases the latest products and technologies in the building materials and hardware industry but also provides a platform for communication and cooperation between domestic and international enterprises in Vietnam.
XTransfer's debut at the VietBuild Home International Exhibition aims to facilitate seamless transactions and trade between Vietnamese and Chinese businesses. When Vietnamese companies use XTransfer accounts to make payments to Chinese sellers' XTransfer accounts, payments can be made with just one click, and the funds arrive within seconds. They no longer have to worry about funds getting stuck in remittance channels or waiting for days, which significantly accelerates the flow of funds. Moreover, for both Vietnamese buyers and Chinese sellers, opening an XTransfer account incurs zero account opening fees and zero account management fees. Whether it's opening an account, fund collection and payment, withdrawal, transfer, or currency exchange, the entire process can be conveniently conducted online without the need to visit a bank, enabling complete online transactions. XTransfer has established a robust AI anti-money laundering and anti-fraud risk control system. Through collaboration with internationally renowned banks, XTransfer assists Vietnamese buyers in remitting funds to mainland China through legal channels, eliminating the risk of account freezing and ensuring the security of funds for both buyers and sellers.
In addition to serving importing SMEs in Vietnam that have payment needs in China, XTransfer also aims to serve local Vietnamese exporting SMEs. SMEs generally find it difficult to obtain good financial services from traditional banks. This not only hinders their transactions with buyers in different countries but also forces some enterprises to use non-compliant channels, such as underground banks, for cross-border remittances, resulting in significant capital risks. As an innovative Unicorn company, XTransfer hopes to utilise technology to help SMEs in emerging countries to promote financial inclusion and gain access to better financial services. XTransfer actively participates in Vietnam's industrial chain, promoting the development of the country's industries production and contributing to its economic growth. XTransfer partners with local licensed financial institutions to provide services to Vietnam SMEs, enabling them to enjoy secure, compliant, fast, convenient, and low-cost global trade payment services.
With a focus on B2B foreign trade financial services for six consecutive years, XTransfer has served over 400,000 foreign trade enterprises and is the number one B2B foreign trade payment platform in China. This year, XTransfer officially launched its international services, and trade enterprises worldwide have begun using XTransfer. While helping solve the payment difficulties for sellers, XTransfer also serves global buyers. When both buyers and sellers use XTransfer accounts, they can achieve secure and compliant 24/7 payment settlement, expected to save 95% of remittance fees and 20% of currency conversion costs, enabling unimpeded fund circulation throughout the entire trade process.
In the future, with the rapid progress of XTransfer's internationalisation service, more and more global buyers and sellers will start to use XTransfer, and in addition to facilitating trade between Vietnamese and Chinese enterprises, XTransfer will be able to further enhance the pace of trade between Vietnam and global enterprises. XTransfer has already served more than 1,000 overseas trading enterprises in one month and tens of thousands of enterprises are in the process of consulting and account opening services. In the future, global buyers and sellers will enjoy the ultimate convenience brought by the XTransfer platform together.
