You may be a cross-border e-commerce business owner, a cross-border freelancer, or a cross-border individual entrepreneur. No matter what cross-border business you engage in, a suitable payment method is necessary.
Cross-border payment plays a multiplier effect on your cross-border business.
There are various payment methods for cross-border sellers. and the most commonly used ones are Paypal, credit card, Western Union, MoneyGram, and overseas local payment. In addition, there are also financial service platforms such as Payoneer/Worldfirst/PingPong/Lianlian Pay.
What I want to introduce to you today is overseas bank account payment, a must-have payment method for cross-border trade and global online stores.
Bank account collection seems to be a very traditional payment way, but for cross-border businesses, it is very necessary to have an overseas bank account.
Epay provides you with the service of opening multi-currency virtual bank accounts online. Merchants can have different online bank accounts to facilitate the management of different businesses.
How does Virtual Account (Virtual Account/Virtual IBAN) promote business growth?
Pain points of traditional bank accounts
Advantages of virtual account system
Application Scenario 1— Collection and Payment for International Trade
▶ Accounts names are the same as the payment name, more convenient to trade.
▶ Local collection capability reduces costs, with competitive foreign exchange rates
▶ Open multiple local accounts in multiple countries
▶ Local or cross-border payment via UI, API, or SWIFT commands
Application Scenario 2— Collection and Payment for E-commerce
▶ The seller uses a local account to receive payment at the online store in the country
▶ Local collection capability reduces costs, competitive foreign exchange rates
▶ Unlimited number of virtual accounts for multiple stores
▶ Local or cross-border payment via UI, API, or SWIFT commands
The virtual bank accounts that Epay currently supports opening:
Supporting HKD, offshore RMB, EUR, GBP, and USD collection.
Virtual bank accounts have the same function as physical bank accounts. but compared with traditional bank accounts, virtual bank accounts are easier to operate and manage. Know more details about account opening please visit Epay's official website