By Lu Chenghui

‘The last remit of more than 20 thousand U.S. dollars from Southeast Asia, was started on the day and received in the afternoon. Time for payment collection from African market was reduced from six to seven working days to three working days.’ talking about the service provided by XTransfer, on 21 April, Huan Cheng, general manager of Nantong Ao Xi Si textile Co., Ltd., poured praises.

Ao Xi Si is a local home textile enterprise in Nantong. Its products are mainly sold to areas including North America, Africa, and Southeast Asia. Now Ao Xi Si collects cross border payment by XTransfer platform in markets in Southeast Asia and Africa etc. ‘We have an overseas warehouse in Southeast Asia. There are problems in traditional cross border payment collection measures such as long time and expensive commission. In Southeast Asia, there are strict foreign exchange controls. And the enterprise also faces challenges in fund security.’

The problems of Ao Xi Si are common sore points of many micro, small and medium sized foreign trade enterprises in Nantong. To solve the problems, Nantong commerce departments planned to introduce cross border payment collection platform actively, which fit in with XTransfer who was expanding market. In March, XTransfer Nantong service center was open at Tian’an digital industrial park. It was the fifth service center of XTransfer founded in Jiangsu.