In order to improve payment capabilities for importers and exporters in Europe and the Middle East, XTransfer, a prominent B2B cross-border payments provider in China, has established a strategic agreement with Banking Circle.

For XTransfer customers, this new agreement seeks to lower cross-border payment costs and processing times. Chinese suppliers with sizable markets in Europe and the Middle East stand to gain especially from this arrangement.

Global trade payments: Minimising costs

Both XTransfer and Banking Circle believe that one another is the perfect partner for helping Chinese retailers reduce the expenses related to international trade payments.

In order to reduce costs and promote competitiveness in global commerce, the partnership will integrate XTransfer's safe and affordable cross-border payment and money collection solutions with Banking Circle's major currency clearing network and efficient FX engine.

XTransfer can now provide a greater range of local payment and fund collection alternatives to its SME clients thanks to the integration of Banking Circle's infrastructure.

XTransfer customers will be able to receive payments in six more European and Middle Eastern currencies in addition to the major currencies including the US dollar, euro, and pound sterling.

Even though some of the currencies available as a result of this relationship are restricted to certain areas of Europe and the Middle East, XTransfer and its new partner Banking Circle plan to launch even more currency possibilities soon.

The agreement benefits Chinese SMEs that want to sell their goods and products in Europe and the Middle East, as well as customers in these target markets who can pay for their purchases with a greater variety of currencies.

"Our alliance with Banking Circle represents a significant step forward in our expansion into the European and Middle Eastern markets," states Bill Deng, the founder and CEO of XTransfer.

"This partnership promises to revolutionize the international trade landscape for businesses, while also accelerating XTransfer's global ambitions." We look forward to our partnership's ongoing success.

The CEO and co-founder of Banking Circle, Laust Bertelsen, continues, saying, "We are excited to support XTransfer's vision for global trade."

"XTransfer can reduce costs and transaction times by streamlining the payment process for its clients by utilizing Banking Circle's accounts and payment rails."

The three most important factors for SMEs searching for the ideal international payments partner are speed, cost, and transparency. Cross-border payments remain a prominent fintech trend.

Prominent financial entities have been collaborating to enhance their capacity for transnational payments. This year, Visa's collaboration with Western Union to facilitate money transfers in North America, Asia Pacific, Latin America, and Europe was noteworthy.

XTransfer: Scaling internationally

The most recent collaboration between XTransfer and Banking Circle was formed just before the company's July 12 seventh anniversary.

In just seven years, the cross-border trade payment and risk management service provider has expanded quickly to become China's top B2B cross-border trade platform. This is a noteworthy accomplishment.

The XTransfer international Trade Financial Festival, which brings together 28,000 international trade SMEs from around China, is being organized in July for the fourth year by XTransfer.

With 450,000 company clients today, XTransfer is committed to offering small companies affordable, compliant, rapid, easy, and safe options for international trade and fund collection.

"Our alliance with Banking Circle represents a significant step forward in our expansion into the European and Middle Eastern markets," states Bill Deng, the founder and CEO of XTransfer.

"This partnership promises to revolutionize the international trade landscape for businesses, while also accelerating XTransfer's global ambitions." We look forward to our partnership's ongoing success.

The CEO and co-founder of Banking Circle, Laust Bertelsen, continues, saying, "We are excited to support XTransfer's vision for global trade."

"XTransfer can reduce costs and transaction times by streamlining the payment process for its clients by utilizing Banking Circle's accounts and payment rails."

The three most important factors for SMEs searching for the ideal international payments partner are speed, cost, and transparency. Cross-border payments remain a prominent fintech trend.

Prominent financial entities have been collaborating to enhance their capacity for transnational payments. This year, Visa's collaboration with Western Union to facilitate money transfers in North America, Asia Pacific, Latin America, and Europe was noteworthy.