Epay Enable Business to Business(B2B) Transfers to China with Lower Cost

Epay opened the first overseas remittance channel to China in 2020 by cooperating with an authoritative domestic bank. In January 2022, Epay cooperated with payment giant Alipay to create a more convenient remittance method for overseas users. But both only support to transfer of money to individuals.

Now, Epay provides B2B transfer services for overseas enterprises to remit RMB to Chinese merchants. It supports remitting money to Chinese merchants in foreign currencies such as US dollars at the best exchange rate, which greatly improves the sense of security and trust of Chinese enterprises that prefer to settle in local currency.

According to a survey of more than 4,800 micro and small businesses in 10 countries (UK, US, Canada, France, Germany, Spain, Australia, New Zealand, Singapore, and Japan), China is a key market in Asia where businesses want to expand business scope in. However, among those MSMEs that already do business in China, only 25% currently hold renminbi. In addition, more than three-quarters (76%) of businesses are unaware of the upfront transaction fees and exchange rate markups when dealing with foreign currencies.

The B2B RMB transfer model can not only help overseas enterprises to pay Chinese enterprises, but also solve the problem of how to transfer foreign currency back to China for domestic e-commerce. 

The problem that many customers encounter when making payments to Chinese companies or settling the Renminbi to their domestic companies is the amount limitation. For example, the maximum amount is ￥80,000 in some platforms， which is only about US$10,000 at the current exchange rate， but it is not enough for a good profit company.

Epay well solved this issue with its unique payment ability and resource advantages.

Epay's RMB B2B remittance method has no amount limit problem, and its advantages can also be reflected in the cost, exchange rate, and efficiency. Fees and exchange rates are two very important factors in international remittance, for they are key to determining whether the final price is reasonable. 

After comparing with the same type of payment platforms and traditional banks, we found that the recipient can receive an extra RMB 1,088 by transferring 10,000 US dollars on Epay.Thanks to Epay's transparent fees and highly competitive exchange rate.

Sending an overseas payment to China has a set of challenges for any business. Epay helps enterprises to transfer U.S. dollars to China without the exchange rate markup, which is the most transparent and cheapest remittance option for export companies.