PayPal China has launched the Cross-border Payment Gateway for Chinese merchants
PayPal China launched Cross-border Payment Gateway for Chinese merchants
May 11, 2023 – PayPal China announced the launch of a new cross-border payment product called “Cross-border Collection Treasure”. Currently, some PayPal merchants can be invited to experience it.
“Cross-border Collection Treasure” is the first new product tailored for Chinese merchants launched by PayPal China. It can achieve global fund settlements from PayPal accounts to domestic bank accounts in a simple, fast and secure manner, with the entire process completed within the PayPal ecosystem, effectively simplifying the operation process and improving operational efficiency.
“Cross-border Collection Treasure” can effectively help PayPal merchants solve the difficulties of traditional cross-border payment operations, such as complicated procedures, long cycles, and high costs. Chinese merchants can receive payments through “Cross-border Collection Treasure” without redirecting to a third-party platform. From clicking “confirm payment” to receiving RMB in the domestic bank account, the entire process can be completed with just one submission and can be done as fast as 4 hours.
With PayPal’s accumulated years of risk control experience and data security management capabilities in the global market, PayPal China provides customers with strong security guarantees, making merchant payment processes and fund utilization more secure, worry-free, and efficient.
Qiu Han, Global Senior Vice President of PayPal and CEO of PayPal China, said, “Cross-border Collection Treasure is a cross-border RMB payment product launched by us to solve the actual pain points of domestic merchants. It is also an important part of the first fully integrated PayPal ecosystem and the cross-border solution tailored for Chinese merchants. The product provides more flexible choices for our Chinese merchants’ payment collection and makes the last mile of cross-border trade more secure, compliant, and efficient.”
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