RMB cross-border payment refers to the currency business in which enterprises with cross-border trade and retail payment needs use RMB as cross-border payment on a voluntary basis.

The main functions of RMB cross-border payment (CIPS) include connecting domestic and foreign direct participants, processing RMB trade, investment and other cross-border payment services to meet the needs of the continuous development of cross-border RMB business; adopting Internationally accepted message standards, supporting the transmission of message information including Chinese and English; covering RMB settlement needs in major time zones (Asia, Africa, Europe, and the United States); providing two access methods, general and dedicated lines, and participants can choose by themselves wait.

Domestic Acquisition

Import Mode: Domestic Acquisition & Domestic and Foreign Company Collection

Payment Scenario: Payment channel for individual buyers on domestic B2C websites. Domestic e-commerce companies conduct business in the Chinese market. Domestic consumers purchase overseas products and pay in RMB through third-party payment channels, and domestic acquirers enter domestic e-commerce accounts.

Third-party payment channels: Support domestic mainstream bank payment/quick payment/scan code payment/WeChat payment.

Cross-border settlement

Third-party payment provides overall solutions for foreign exchange and RMB payment and settlement for domestic and foreign merchants and domestic e-commerce platforms that carry out e-commerce. Zhifu

has obtained the pilot qualification for cross-border foreign exchange settlement business approved by the China Administration of Foreign Exchange, as well as the cross-border RMB payment business registration application license.

Scope of use:

l Domestic payment services

l Cross-border foreign exchange settlement

l Cross-border RMB settlement