Introduction to global payments

Cross-border payments have become increasingly popular in recent years as businesses and individuals alike seek to take advantage of opportunities in the global economy. There are a number of different ways to send and receive payments internationally, and each has its own advantages and disadvantages. In this section, we will introduce some of the most common methods of global payments and provide an overview of the key considerations involved in choosing the right solution for your needs.

The reason why global payments can be realized

With the continuous development of technology, the globalization of economy and trade, and the increasingly frequent international exchanges, the traditional cross-border payment methods have been unable to meet the needs of merchants and consumers. Cross-border payments have become more complex and diverse, and the pain points of cross-border payments have become more prominent. In order to solve these problems, many countries have launched their own real-time global payment solutions one after another, which has gradually realized the convenience of global payments for merchants and consumers.

The following are the reasons why global payments can be realized:

1. Continuous improvement of technology

With the development of science and technology, cross-border payments are no longer restricted by geographical boundaries, and can be completed in real time regardless of distance. Real-time global payment solutions such as Alipay Global Cross-Border Payment utilize advanced technologies such as big data, cloud computing and blockchain to provide users with safe, convenient and efficient payment experience.

2. The globalization of economy and trade

As the economy becomes increasingly globalized, cross-border trade is also growing rapidly. According to statistics from the United Nations Conference on Trade and Development (UNCTAD), the volume of world merchandise exports in 2017 was US$18.464 trillion, an increase of 7% over 2016. With the growth of cross-border trade, the demand for cross-border payments is also increasing day by day. In order to meet the needs of merchants for

Advantages of global payments

There are many advantages of global payments.

First, global payments allow for the free flow of money around the world. This can help businesses and individuals alike to send and receive payments quickly and easily.

Second, global payments can help to promote economic growth. When money is able to flow freely around the world, it can help to stimulate trade and investment. This can lead to increased economic activity and job creation.

Third, global payments can help to reduce poverty. When people have access to financial services, they can use them to start or expand businesses, buy homes, pay for education, and so on. This can lead to improved living standards and reduced poverty levels.

Fourth, global payments can help to protect the environment. When businesses and individuals use green finance products and services, they can help to fund environmental protection initiatives. This can lead to a cleaner and healthier planet for all.

Finally, global payments can help to build trust and understanding between people from different cultures. When people from different countries are able to transact with each other quickly and easily, it helps to break down barriers and foster trust and understanding.

Companies that offer global payments

As the world economy continues to globalize, an increasing number of businesses are engaging in international trade. This globalization of commerce has led to a corresponding growth in the need for efficient and reliable global payments solutions.

There are a number of companies that offer global payment services, each with its own strengths and weaknesses. The following is a brief overview of some of the most popular providers:

1.PayPal: One of the largest and most well-known online payment processors, PayPal offers a variety of features and options for businesses looking to send or receive payments internationally. However, PayPal can be expensive, particularly for smaller transactions, and has been known to freeze accounts without notice or explanation.

2.WorldRemit: A newer player in the global payments space, WorldRemit offers fast, low-cost money transfers to over 145 countries. The company is also one of the few that allows customers to send money directly to mobile wallets in many developing countries. However, WorldRemit's network is not as extensive as some of its competitors.

3.Western Union: One of the oldest names in money transfer, Western Union remains a popular choice for businesses needing to send large sums of money quickly and reliably. However, Western Union fees can be high, especially for smaller transactions, and the company has been criticized for its customer service in recent years.

4、Fincone Global Payment Card

In terms of global payment, Fincone is also a good choice. On April 20, 2020, Fincone launched in-depth cooperation with KEY STOOL CO., LTD to provide global payment and payment functions, making it fast and safe to pay for goods and purchases.

On May 11, 2020, Fincone and DING SHENG INC signed a cooperation agreement, and will work together in the next 5 years to advance and retreat together. If you need to apply for a global payment card, you can choose us, we will serve you!