DankePay Safe and efficient payment services, opening up new paths for overseas growth | Case studies sharing

DankePay offers secure and efficient payment services for international growth Case studies will be shared

As the world’s largest wholesale market for small commodities, Yiwu has always been regarded as an indicator of foreign trade. In the first quarter of this year, Yiwu’s total import and export value reached 118.44 billion yuan (RMB, the same below), an increase of 11.4% compared with the same period last year. Among them, exports were 107.09 billion yuan, a year-on-year increase of 11.0%; imports were 11.35 billion yuan, a year-on-year increase of 15.6%.

Although Yiwu has ushered in a prosperous recovery, uncertainties such as great power competition, geopolitical conflicts, shrinking orders, and industrial chain transfer have increased. In addition, with the continuous development of cross-border e-commerce, more overseas customers tend to choose online procurement, which has also brought some impact on traditional foreign trade. For Yiwu foreign trade enterprises in the wave of globalization, how to find a “high-quality” growth path in going global?

In this case sharing session, we invited Windy, the founder of Danzhihe Trading Co., Ltd., to share with us how she stabilizes capital flow and achieves high-speed business growth in the enterprise’s journey to go global.

Yiwu is full of entrepreneurial stories, and today’s protagonist, Windy, is one of them. Eight years ago, as a worker, she was inspired by her relatives and came to Yiwu to make a name for herself. Danzhihe Trading Co., Ltd., founded in 2016, focuses on foreign trade exports and covers product categories such as daily necessities, clothing accessories, hardware, etc. To date, Danzhihe’s business has spread to multiple markets such as the United States, South Korea, and Ethiopia.

01 Frequent frozen cards, compliance can lead to long-term success

Facing the increasingly complex international background and the increasingly strict regulatory requirements, compliance has become a key link that companies cannot bypass in the second half of their overseas expansion. The consequences and losses caused by failure to fulfill compliance obligations will be even more severe.

“Some merchants always encounter frozen bank accounts because they use irregular payment methods, which will have a huge impact on the company’s operations and cash flow,” said Windy. “Therefore, secure payment is particularly important to us. Seeking the global payment accounts of SUNRATE, which has strong risk control services, can avoid freezing situations as much as possible.”

Security and compliance are the first threshold that companies must pass in their overseas expansion. Since its establishment in 2016, SUNRATE has completed compliance layout in major economies around the world, currently holding licenses and business qualifications in many countries and regions such as China, Hong Kong, the United States, Europe, the United Kingdom, Japan, Indonesia, and Singapore. The company has also established an industry-leading risk control system, fully addressing the concerns of overseas expansion for companies.

02 Simple and Fast, Compliance with No Limit on Settlement

“Our company follows the 1039 export model. After the order volume increased, the settlement limit of $150,000 was far from enough. SUNRATE’s account settlement has no limit on the amount, which helped us solve a big problem,” said Windy.

SUNRATE has been deeply involved in the trade services field for many years, providing companies with global multi-currency accounts covering international banks such as Citibank, Standard Chartered, and DBS. The company supports opening local receiving accounts for Indonesian rupiah, Thai baht, US dollars, euros, British pounds, Mexican pesos, and other currencies, and supports online free account opening without account management fees, saving time and effort. At the same time, through deep linkage with qualified domestic cooperation agencies, enterprises can enjoy safe and compliant unlimited settlement services at SUNRATE, accelerating global business development.

03 Freedom in payment and collection, solving the problem of capital turnover

For foreign trade enterprises, the timeliness of fund arrival is also a particularly important issue in the industry. Due to the multiple and complex international remittance clearing processes, as well as holidays in different countries and regions, slow fund arrival leads to long capital recovery cycles, which affects inventory and subsequent operations.

For Danzhino, it is not only important to ensure safety, but also to quickly collect money. Windy pointed out that “the collection efficiency of SUNRATE can reach T+0. For transactions completed before 9 PM, funds can be basically received on the same day. In addition, the payment process of suppliers is becoming more and more convenient, with fast efficiency.”

Based on the global payment network and the independently built intelligent routing system, SUNRATE can automatically match more optimal outbound paths for enterprises, and the fund arrival time can be shortened from several days to the fastest same day (T+0). Even in compliance scenarios, enterprises can easily transfer funds to other suppliers’ SUNRATE accounts, and receive real-time funds in just a few seconds, without extending the settlement cycle, which enables enterprises to pay global suppliers faster.

With the continuous advancement of international trade and globalization, enterprises need more efficient service support to meet the increasing business volume. SUNRATE will continue to explore innovation and upgrade product services, deeply construct an all-round digital service platform, and help export-oriented enterprises win business opportunities in the global market competition.

In 2023, more exciting stories of foreign trade personnel are constantly happening. Welcome to follow the official WeChat account of SUNRATE, and see you in the next issue~

* The “exchange settlement” services mentioned on this page are provided by qualified SUNRATE partner institutions within the country.

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