Cross-border payment service
Cross-border payment is different from the cross-border payment of RMB. Cross-border payment is when Chinese consumers buy foreign merchant products online or foreign consumers buy Chinese merchant products. Because of the different currency, they need to pass certain The settlement tool and payment system enable the conversion of funds between two countries or regions, and finally complete the transaction.
Cross-border foreign exchange business classification
The foreign exchange cross-border payment business carried out by non-financial institutions (a company with a third-party payment license is also considered a non-gold institution) is mainly a bank card acquiring business, which includes two modes: offshore acquiring and foreign card acquiring.
1. Overseas acquiring business
It means that non-financial institutions collect foreign exchange payments from overseas individuals for overseas websites for overseas websites.
The basic process of the business is that after the domestic individuals purchase the goods on the overseas website according to the displayed foreign currency quotation, they pay the corresponding RMB amount to the non-financial institution, and then the domestic cooperative banks of the non-financial institutions purchase the foreign exchange in bulk and enter the foreign exchange bureau for personal settlement. Exchange management system. After receiving the payment success information issued by the non-financial institution, the overseas merchants will send the goods to the domestic residents by post. After receiving the goods, the domestic residents will send clearing instructions to non-financial institutions. In accordance with the settlement agreement with overseas merchants, non-financial institutions will transfer foreign currency payment to the overseas merchant bank settlement account through the domestic cooperative bank, and complete cross-border settlement.
2. Foreign card receipt
It refers to domestic non-financial institutions on behalf of domestic websites, and receives foreign exchange payments from overseas individuals to the territory.
The business process is generally that after an overseas individual purchases a product on a domestic website, the overseas payment company that cooperates with the domestic non-financial institution opens a foreign bank account to the domestic non-financial institution to pay the foreign exchange payment (the payment method can be either Visa/MasterCard, etc.). A credit card issued overseas may also be a T/T wire transfer). After confirming receipt of foreign exchange payment, the domestic non-financial institution will notify the domestic website to deliver the goods to overseas individuals. After receiving the goods, the overseas individuals confirm and instruct the domestic non-financial institutions to transfer the payment to the domestic website. The cooperative banks of domestic non-financial institutions shall handle cross-border settlement of foreign exchange funds according to the instructions, and transfer the RMB funds to the domestic websites after settlement of foreign exchange.
Classification of cross-border payments
1. Cross-border transfer remittance channels: third-party payment platforms, commercial banks and professional remittance companies.
2. Overseas offline consumption channels: credit card swiping, debit card swiping, foreign currency cash and RMB cash.
3. Cross-border network consumption channels: third-party payment platform, online banking online payment, credit card online payment, electronic remittance, mobile mobile payment and fixed-line payment.
Third-party cross-border payment process
The settlement methods for cross-border e-commerce include two types of cross-border payment purchase methods and cross-border income settlement methods. Both foreign exchange and foreign exchange are exchanged. The foreign exchange is exchanged into RMB, that is, you or your company sells foreign exchange to the bank; the purchase of foreign exchange is to convert the RMB into foreign exchange, that is, you or your company buys foreign exchange from the bank. Buying foreign exchange and selling foreign exchange is actually one thing. In terms of banking business, customers ask for foreign exchange (purchasing foreign exchange in local currency) is the bank selling foreign exchange (the bank sells foreign exchange to customers).
Cross-border payment service