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MEXICO CITY, June 5, 2024 /PRNewswire/ -- XTransfer, the global leading and China's No.1 B2B cross-border trade payment platform made its debut at Expo Electrica 2024 this week, to provide local small and medium-sized enterprises (SMEs) more secure and user-friendly cross-border financial services.
XTransfer Showcases Innovative Payment Solutions at Mexico Expo Electrica 2024
China is Mexico's second-largest global trading partner. According to statistics from the Ministry of Commerce of China, in 2023, two-way trade between both nations amounted to US$123 billion. The data is still growing rapidly, with a growth rate of 11.4% in Q1 this year. XTransfer data shows that in the first five months of 2024, the total amount received by Chinese SMEs from Mexico increased by 31.3% compared to the same period last year.
During the Mexico Expo Electrica 2024, XTransfer officially announced a partnership with the well-known Latin American financial company EBANX. Now SMEs in Mexico, Brazil, Peru, Colombia, and Chile can use XTransfer to receive local currency and also make payments quickly, safely, and compliantly, with no intermediary bank fees, significantly reducing cross-border remittance costs.
Moreover, by partnering with global banks such as JP Morgan, Deutsche Bank, DBS Bank, XTransfer provides SMEs with more compliant and convenient cross-border trade payment and receipt services. Customers can obtain a series of global accounts, provided by these banks within less than 24 hours after registration, supporting over 30 currencies and covering more than 200 countries and regions.
"We are delighted that our innovative payment solutions have attracted the attention of local enterprises. By cooperating with internationally renowned banks and financial institutions, XTransfer has built a global multi-currency unified settlement platform and anti-money laundering risk control infrastructure for SMEs, allowing them to enjoy the same level of cross-border financial services as large multinational corporations," said Jason Sun, XTransfer Co-Founder and CFO.
It is worth mentioning that the company just officially announced its obtaining of 3 new payment licenses in United States last month, accelerating the pace of business expansion in North America.
Founded in 2017, XTransfer is now China's No.1 B2B cross-border trade payment platform, serving more than 450,000 enterprise clients. Headquartered in Shanghai, XTransfer has branches in Hong Kong (China), the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore. XTransfer has obtained local payment licenses in Hong Kong (China), the United Kingdom, the United States, Canada, and Australia.
