in this year's "two sessions" government work report, the development of new business forms and new models such as cross-border e-commerce was highlighted. The report points out that we should promote the stable development of import and export, strengthen credit support for small and medium-sized foreign trade enterprises, and deepen the pilot of trade and foreign exchange revenue and expenditure facilitation
the long time-consuming and late arrival of foreign exchange funds in cross-border trade is a common pain point in the industry. "In the past, after overseas buyers' cross-border wire transfer (TT) remittance, the arrival cycle took 2-7 days, with strong uncertainty." Yang Chaojun, the operator of Jiaxing yihutong import and Export Co., Ltd., said that if there are Saturdays, Sundays or holidays, there will be longer delays
in order to effectively solve the industry pain points of merchants, after six months of development and product debugging, Alibaba international station launched the "instant receipt" service in conjunction with a third-party organization during the new trade festival in March, raising the time limit of receipt of merchants' funds to less than half an hour on average. Businesses can clearly see the time of the buyer's money and the expected arrival time through the background. Not only that, the capital flow information will also be reminded, and the time can be accurate to a few minutes
it is understood that the" instant receipt"service is a set of feasible technical solutions designed by analyzing the commonness and extensibility between millions of information flows and capital flows through big data. It is also the first application of class B funds in cross-border trade to improve the timeliness of receipt of accounts.
"The timeliness of receipt is very important for class B trade. The instant receipt service can achieve receipt within half an hour, which solves many worries for us." Zhao Ming, the e-commerce supervisor of Zhejiang Chuanyang Furniture Co., Ltd., was also troubled by the arrival time. For example, if the customer is late in drawing up the order, they can negotiate the price, but if the customer is late in drawing up the order, it will affect the business
cross border TT remittance is different from domestic transfer remittance commonly used by consumers. There are many intermediate links and complex processes, so it takes a long time. Cross border capital also involves the trust between buyers and sellers. Relying on the endorsement of the platform, buyers and sellers can make peace of mind payment without meeting
Alibaba international station's SINOSURE capital business operation said that the service is based on the common needs of customers after investigation. Alibaba international station, as a platform party, cooperates with third-party institutions to actively consider from the perspective of customers and strengthen the customer value in cross-border service trade. Instant arrival allows businesses to have a richer time to arrange production and delivery, so that there is no difficult business in the world
as a representative B2B platform for cross-border e-commerce, Alibaba international station launched the "10 billion ecological investment fund" plan last year to speed up the layout of the "digital new foreign trade" track, strengthen the construction of platform functions, and improve services in logistics, payment, customs clearance, tax rebate and other links
source: China Daily