XTransfer debuts in Thailand at “STYLE Bangkok 2024”, offering innovative payment solutions to promote trade between China and Thailand with a 32.5% increase in money collected from Thai SMEs.
XTransfer Launches in Thailand at “STYLE Bangkok 2024”
XTransfer, a leading B2B cross-border trade payment platform, has introduced its services in Thailand at the “STYLE Bangkok 2024” event. The platform offers innovative payment solutions to facilitate trade between China and Thailand, aiming to enhance cross-border transactions for businesses in both countries.
Trade Statistics Between China and Thailand
According to data from the Ministry of Commerce of China, Thailand was the fourth-largest trading partner of China within ASEAN in 2023, with significant import and export volumes. XTransfer reports a 32.5% increase in funds collected by Chinese SMEs from Thai partners in the first two months of 2024, showcasing the growing trade relationship between the two countries.
Secure Payment Solutions for Chinese and Thai Businesses
With assistance from Deutsche Bank, XTransfer has obtained Non-Resident Qualified Company status from the Bank of Thailand, making it the first company in Thailand to receive this accreditation. This status enables XTransfer to offer secure payment solutions for Chinese and Thai enterprises, facilitating transactions through local payment systems and saving businesses on cross-border remittance fees.