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SINGAPORE, April 30, 2024 /PRNewswire/ -- SUNRATE, a global intelligent treasury management and payments platform, announced its partnership with YeePay, a leading enterprise payment solutions provider, to empower Chinese businesses to expand into the global markets.
With the current trend of greater interconnectivity around the world, China will continue to be an important player in global development, with Chinese companies playing crucial roles on the international stage more than ever. However, to better adapt to international competition and respond to global challenges, establishing and adhering to strong compliance frameworks has become the core competitiveness and inevitable requirement of international companies. Among the challenges, compliance and security of cross-border B2B payments are the main challenges that companies face in the internationalization process.
As the State Council released the Regulations on the Supervision and Administration of Non-bank Payment Institutions (hereinafter referred to as the Regulations), which will take effect on May 1, 2024, YeePay and SUNRATE will actively adopt all requirements will help small and medium-sized businesses (SMEs) go global seamlessly by creating a comprehensive, secure and compliant global business payment solution and assessing global growth opportunities.
Bin Tang, Founder and CEO of YeePay, said: "The strategic cooperation between YeePay and SUNRATE will further improve the compliance and security of cross-border payments. Both SUNRATE and YeePay will continuously strengthen risk management, protect user rights and will actively explore new cooperation models and services to provide globally expanding Chinese companies with secure, convenient and cost-effective payment and transaction services. In addition, we hope to see more partners join us, providing better transaction services for them. Chinese companies expand globally.
Paul Meng, co-founder of SUNRATE, said: "For SUNRATE, security and compliance are the foundation of our business operations. As we expand into different markets, SUNRATE maintains locally compliant operations, including a collaborative with well-known local financial institutions. We are pleased to have forged a strategic partnership with YeePay, which will allow both companies to work together to create more secure and efficient global payment and collection services for Chinese businesses."
About SUNRATE
SUNRATE is an intelligent global payments and treasury management platform for businesses around the world. Since its inception in 2016, SUNRATE is recognized as a leading solutions provider and has enabled businesses to operate and scale both locally and globally in over 190 countries and regions with its cutting-edge proprietary platform, extensive global network and APIs. solid.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with leading global financial institutions such as Citibank, Standard Chartered, Barclays and J.P. Bank. Morgan. For more information about SUNRATE, visit https://www.sunrate.com/
About YeePay
Founded in 2003, YeePay is one of the leading enterprise payment service providers in China. The company offers total payment solutions for the enterprise, integrating multiple payment channels, including online, mobile and offline, on the frontend, and streamlining settlement processes on the backend. YeePay's key advantage is customized solutions and value-added services for industry verticals, including airlines and travel, new retail, internet finance, management and education, cross-border, etc. YeePay holds the payment license of the People's Bank of China and the cross-border license of the State Administration of Foreign Exchange.
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