SINGAPORE, April 29,
2024 /PRNewswire/ -- SUNRATE, an intelligent global
payment and treasury management platform announced its partnership
with YeePay, a leading enterprise payment solutions provider, to
empower Chinese companies to expand into global markets.
With the ongoing trend of increased interconnectivity across the
globe, China will continue to be
an important player in global development, and Chinese enterprises
are more than ever, playing crucial roles on the international
stage. However, in order to better adapt to international
competition and respond to global challenges, setting up and
adherence to robust compliance frameworks have become the core
competitiveness and inevitable requirement of international
enterprises. Among the challenges, the compliance and security of
cross-border B2B payments are major challenges that enterprises
face in the process of internationalisation.
As the State Council unveiled 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 embrace all regulatory requirements and help small and
medium-sized enterprises (SMEs) to go global seamlessly - by
building a compliant and secure one-stop global business payment
solution, and assessing global growth opportunities.
Bin Tang, Founder and CEO at YeePay said, "The strategic
cooperation between YeePay and SUNRATE will further enhance the
compliance and security of cross-border payments. Both SUNRATE and
YeePay will continuously strengthen risk management, protect user
rights, and actively explore new cooperation models and services to
provide Chinese enterprises expanding globally with secure,
convenient, and cost-effective payment and transaction services. In
addition, we hope to see more partners joining us, providing better
transaction services for Chinese enterprises to expand
globally."
Paul Meng, Co-Founder at SUNRATE
said, "For SUNRATE, security and compliance are the bedrock of our
business operations. As we expand into different markets, SUNRATE
maintains compliant operations locally, including in-depth
collaboration 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 safer and
more efficient global business payment and collection services for
Chinese enterprises."
About SUNRATE
SUNRATE is an intelligent global payment and treasury management
platform for businesses worldwide. Since its inception in 2016,
SUNRATE is recognised as a leading solution provider and has
enabled companies to operate and scale both locally and globally in
190+ countries and regions with its cutting-edge proprietary
platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global
financial institutions, such as Citibank, Standard Chartered,
Barclays and J.P. Morgan. To learn more about SUNRATE, visit
https://www.sunrate.com/
About YeePay
Established in 2003, YeePay is one of the leading enterprise
payment service providers in China. The company provides total payment
solutions for the enterprise, integrating multiple payment channels
including online, mobile and offline in the frontend, and
streamlining settlement processes in the backend. YeePay's key
advantage is customized solutions and value-added services for
industry verticals including airline and travel, new retail,
Internet finance, administration and education, cross-border etc.
YeePay holds the payment license from People's Bank of China and the cross-border license from State
Administration of Foreign Exchange.
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SOURCE Sunrate