XTransfer and Ouribank have partnered to enhance cross-border payments for businesses in Brazil, particularly benefiting trade with China. This collaboration reduces transaction costs and processing times, allowing clients to operate more efficiently. The partnership taps into local currency options and simplifies payment processes, supporting e-commerce and foreign trade in Latin America.

XTransfer, China’s premier B2B cross-border trade payment platform, has partnered with Ouribank, a leading foreign exchange bank in Brazil, to facilitate more efficient cross-border payments. This collaboration aims to enhance trade for both Chinese and global businesses with markets in Latin America, significantly reducing transaction costs and processing times for XTransfer’s clients.

XTransfer specializes in providing secured, compliant, and cost-effective cross-border payment solutions, becoming a leading entity with over 600,000 enterprise clients. Ouribank, leveraging four decades of expertise in foreign exchange and innovative eFX technology, enables XTransfer to expand its services to include local payment and fund collection options, particularly in Brazilian Real (BRL).

The partnership allows global companies using XTransfer to receive payments in BRL, facilitating simpler transactions for Brazilian buyers who wish to pay in local currency without the complications of foreign exchange. Furthermore, the alliance also benefits e-commerce clients, particularly Chinese enterprises, enabling seamless transfers of funds to domestic accounts through XTransfer’s infrastructure.

Today, China stands as Brazil’s key trading partner, exemplified by bilateral trade that reached approximately USD 188 billion in 2024. The partnership addresses issues that businesses often face in cross-border transactions, including prolonged remittance times, high costs, and exchange rate losses. This collaboration significantly simplifies Brazil’s cross-border trade operations.

Bill Deng, Founder and CEO of XTransfer, noted that the partnership represents a pivotal step in their expansion into Latin American markets, enhancing the trade experience for regional SMEs. Ouribank Director Bruno Luigi Foresti emphasized their commitment to delivering innovative payment solutions while maintaining their legacy of excellence over four decades.

The partnership between XTransfer and Ouribank aims to significantly improve the efficiency of cross-border payments in Brazil, particularly benefiting trade relationships with China. By providing innovative payment solutions and local currency options, this alliance simplifies transaction processes and enhances competitiveness for businesses engaged in foreign trade. Moreover, it strengthens Brazil’s position in the global market, assisting both local enterprises and international suppliers in navigating trade complexities.

Original Source: www.prnewswire.com

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