Currencycloud and Pyvio will improve Chinese e-commerce payments

Currencycloud and Pyvio have announced a partnership to enhance cross-border payment solutions for Chinese eCommerce companies operating in emerging markets. Currencycloud specializes in simplifying business in a multi-currency world, while Pyvio focuses on building financial services infrastructure with a global-local approach.

This partnership will enable Pyvio to leverage Currencycloud’s technology to manage transactions and payments in over 180 countries and over 30 currencies, including Chinese Yuan (CNH and CNY). The partnership aims to address some of the key challenges facing Chinese online sellers, particularly in emerging markets where financial infrastructure is often underdeveloped and regulatory compliance can be complex.

One of the main obstacles for Chinese online sellers setting up in these regions is the collection and withdrawal process, which can be cumbersome and expensive. Leveraging Currencycloud’s expertise, Pyvio aims to offer a more customized and efficient solution that is in line with its overarching strategy of creating best-in-class partnerships with other licensed financial institutions.

Rohit Narang, Currencycloud’s managing director for Asia Pacific, noted the importance of this partnership. “Pyvio is a rapidly growing company operating in an exciting space. For Chinese companies, the challenges they face in the process of collecting and disbursing payments are a real obstacle to growth, which is why the solution that the Pyvio team has built is very much needed,” he added. he said. “This partnership will help the Pyvio team continue to disrupt the e-commerce online payments landscape in emerging markets, and we look forward to embarking on this journey with them.”

Li Kai, CEO of Pyvio, expressed similar enthusiasm about the partnership. “We are very excited to partner with Currencycloud as a new solution for online e-commerce companies in emerging markets. Our solution will help Chinese eCommerce sellers overcome the barriers and challenges to global growth and increase sales and revenues,” he said. “We are also committed to continually improving our services and adding more features to meet the evolving needs and demands of our customers.”

This partnership comes at a crucial time as demand for seamless and cost-effective cross-border payment solutions continues to grow. Many Chinese e-commerce companies are eager to expand into new markets, but are often held back by inefficient payment processes that can eat into their profit margins and limit their growth prospects.

By joining forces, Currencycloud and Pyvio hope to offer a solution that will not only simplify payment processes, but also ensure compliance with local regulations, making it easier for Chinese online sellers to expand into new territories.

Currencycloud has established itself as a key player in the cross-border payments industry, processing over $200 billion in transactions in over 180 countries since 2012. The company, currently offering Visa solutions, works with a wide range of banks, financial institutions and fintech companies around the world, including such well-known names as Starling Bank, Revolut and Lunar.

Pyvio, on the other hand, is known for its strong focus on technological innovation and involvement in emerging markets, including Southeast Asia, Latin America and Africa. The company provides a comprehensive global payments network and custom payment solutions that meet the specific needs of its customers, integrating with global banks and payment service providers to effectively solve cross-border financing challenges.