Cross-border payment company XTransfer and OCBC Bank announced a partnership to provide small and medium-sized enterprises (SMEs) with enhanced financial services for international trade.
The partnership focuses on customized payment processing, foreign exchange, risk management and asset management solutions for small and medium-sized businesses.
The partnership will leverage OCBC’s regional network in markets including Singapore, Hong Kong, Malaysia and Indonesia.
OCBC China will also act as global account manager for XTransfer, working closely with the bank’s subsidiaries to support cross-border payments and drive business growth.
A key feature of this partnership is OCBC Hong Kong’s ‘Global Multi-Currency Account’. It supports trade by allowing businesses to manage transactions in major global and regional currencies such as the Renminbi, US Dollar, British Pound, Euro, and ASEAN currencies. ASEAN and other regions.
By integrating Hong Kong’s local payment networks such as CHATS and FPS into XTransfer’s platform, we aim to provide businesses with more convenient payment and fund collection options.
This initiative is expected to improve the efficiency of cross-border trade and expand financial services to XTransfer’s customer base.
XTransfer, which serves more than 550,000 clients worldwide, aims to offer more payment and collection options to small and medium-sized businesses through this partnership.
Bill Deng, founder and CEO of XTransfer, said:
“This partnership marks a significant milestone for XTransfer and significantly strengthens our global payments capabilities. By leveraging OCBC’s extensive global payments network, accelerate business expansion and save on local expansion efforts.
XTransfer looks forward to expanding business with OCBC in the future in various areas including asset management and lending, and looks forward to working with them to capture the vast opportunities in Greater China and ASEAN. looking forward to it. ”
Ang Eng Siong, CEO of OCBC China, said:
“OCBC uses Singapore and Hong Kong as twin hubs and extends across Greater China and ASEAN regions. XTransfer’s business development plans in these areas are closely aligned with our network layout.
As XTransfer’s global account manager, OCBC China will support XTransfer and its clients in facilitating cross-border payments through close collaboration with the group’s various operating subsidiaries. This will help meet the growing demand for cross-border development and business growth and achieve aspirations in Greater China and ASEAN. ”
Featured image: XTransfer founder and CEO Bill Deng (left) and OCBC China CEO Ang Eng Siong (right) at the memorandum signing ceremony.
