WorldFirst stated that it expects the launch will ensure the timely delivery of goods for the SME customers while enhancing the security and speed of cross-border payments for international SMEs that purchase items from suppliers based in China.

Head of WorldFirst's worldwide B2B business Ma Qisheng talked on the announcement, saying, "WorldTrade's launch aims to build trust in B2B trade through digital means." WorldTrade reduces trade obstacles and streamlines international business transactions by facilitating intelligent payment processing in accordance with agreed trade agreements.

WorldTrade uses smart contract fulfilment technologies as a new addition to WorldFirst's worldwide sourcing payment solutions, to safeguard and enhance the sourcing operations of SME buyers. By closely examining the credibility of sellers and upholding their end of the bargain, it seeks to safeguard SME buyer funds and reduce the possibility of suffering losses from dishonest transactions.

After the trading partners use WorldTrade to engage into a contract, the system starts processing payments and delivering items in accordance with the terms and deadlines specified in the contract.

assisting foreign purchasers who source from China

WorldTrade allows international purchasers to pay their suppliers with credit cards, debit cards, or the WorldFirst platform World Account. It also enables instantaneous payment straight into the accounts of the sellers. An overseas B2B trade payment is typically processed through current channels in one hour to seven days.

Both the buyer and the seller can save more on transaction fees and exchange rates by using World Account. A small and medium-sized business (SME) that transacts $10 million in annual commerce with WorldFirst may save at least $10,000 annually in transaction fees.


WorldFirst's extensive collaborations with banks, customs offices, and logistics providers allow WorldTrade to consolidate and validate critical trade transaction information, such as payments, customs clearance, and delivery, facilitating the fulfilment of smart contracts.

Together with WorldTrade, WorldFirst offers a cross-border payment option in collaboration with 1688, one of the biggest wholesale marketplaces in China, to assist foreign buyers who are sourcing from China. With the help of the solution, global SME customers may pay 1688 merchants without having to open an onshore bank account in China and take advantage of extremely favorable foreign exchange rates.