Currencycloud, a company simplifying business in a multi-currency world, and Pyvio (Hong Kong), a fintech specializing in ‘Glocal’ financial services infrastructure, have joined forces to address the payment collection and payout challenges faced by many Chinese online merchants.
Through this partnership, Pyvio will harness Currencycloud’s technology to facilitate fund collection and disbursement in over 180 countries and across more than 30 currencies, including CNH and CNY. This integration aims to streamline cross-border payments, enhancing efficiency and cost-effectiveness for merchants.
The significance of this collaboration is particularly pronounced in emerging regions where infrastructure is underdeveloped, and working out complex regulatory frameworks poses challenges to ensuring payment compliance.
Rohit Narang, managing director of APAC at Currencycloud, emphasized the importance of addressing these challenges for Chinese firms seeking expansion.
He stated, “Pyvio is a fast-growing business in an exciting space. For Chinese firms, the challenges they face in the payment collection and payout process are a real blocker to expansion – so the solution that the Pyvio team has built is much needed.”
Narang anticipates that this partnership will empower Pyvio to disrupt the online e-commerce payment space in emerging markets, facilitating smoother transactions for merchants.
Pyvio’s collaboration with Currencycloud aligns with its overarching business strategy, which prioritizes forging partnerships with licensed financial institutions to tackle payment obstacles effectively
. This approach enables Pyvio to offer tailored services to merchants based on their unique requirements and preferences.
Li Kai, CEO of Pyvio, expressed enthusiasm about the partnership, highlighting its potential to address barriers to global growth for Chinese e-commerce merchants.
Kai stated, “Our solution will help Chinese e-commerce merchants overcome the barriers and challenges to global growth and boost their sales and revenue. We are also committed to constantly improving our service and adding more features and functions to meet the evolving needs and demands of our customers.”
