XTransfer and Ouribank Collaborate to Transform Cross-Border Payments in Brazil
XTransfer and Ouribank have formed a partnership to enhance cross-border payments in Brazil, targeting Chinese and global traders. This collaboration aims to cut costs and processing times for transactions, while also providing local payment solutions, particularly in Brazilian Real (BRL) via PIX. The alliance caters to both traditional trade and the e-commerce sector, simplifying the trade experience for companies involved.
XTransfer, a leading B2B cross-border trade payment platform from China, has partnered with Ouribank, a prominent foreign exchange bank in Brazil. This partnership aims to enhance cross-border payment efficiency and reduce costs for XTransfer’s clients, primarily benefiting Chinese and global traders in Latin America. By collaborating, both firms can offer improved payment and fund collection alternatives, streamlining transactions for their global clientele.
With an extensive client base, XTransfer provides secure and cost-effective payment solutions that facilitate global business expansion. In contrast, Ouribank has over forty years of expertise in the foreign exchange sector. Their collaboration will ensure that clients benefit from local payment options, including transactions in Brazilian Real (BRL) through the PIX system, thus eliminating foreign exchange complications.
The collaboration is not limited to traditional trade. It extends to e-commerce, allowing Chinese clients to receive payments from Brazil through their XTransfer accounts. This enhances the investor experience for global companies and eases the complexities of cross-border transactions.
Data indicates that China has maintained a significant trading relationship with Brazil, marking a 3.5% growth in bilateral trade to approximately USD 188 billion in 2024. The new partnership addresses common obstacles in cross-border payments, such as long processing times and high fees, thereby promoting smoother international trade.
Bill Deng, Founder and CEO of XTransfer, stated that this partnership marks a significant step toward expanding their presence in Brazil and Latin America. He believes it will enhance the trading experience for SMEs across regions. Concurrently, Bruno Luigi Foresti, Director of Ouribank, emphasized their goal to advance payment technologies and reduce transaction friction while retaining their long-standing expertise in the financial sector.
XTransfer, established in 2017, has become the top B2B cross-border payment platform in China, facilitating trust and compliance through innovative technology solutions. Ouribank similarly leverages its longstanding history and experience to offer enhanced financial products, striving to connect Brazilian clients with global markets effectively.
The strategic alliance between XTransfer and Ouribank represents a significant advancement in facilitating cross-border trade and payments between Brazil and global markets, particularly benefiting Chinese traders. Their collaborative efforts promise to streamline transaction processes, reduce costs, and enhance efficiency, thereby promoting a more interconnected global economy.
Original Source: www.prnewswire.com
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