On June 24, Beyond Technology clearly stated in response to relevant inquiries through public investor interaction channels that in the field of cross-border payment, the company has provided cross-border payment system development, upgrade and transformation related services to some customers, and its technical capabilities have been widely recognized by customers.
As China’s foreign trade boom continues to heat up, the rapid development of cross-border e-commerce, foreign B2B transactions, overseas cultural tourism and other industries has put forward higher requirements for the efficiency, compliance and security of cross-border payments. The demand for cross-border payment system iterations by relevant licensed payment institutions and commercial banks has also increased.
As a service provider that has been deeply involved in the field of financial technology services for many years, Beyond Technology has accumulated profound technical experience in the fields of payment system construction, settlement module optimization, compliance and risk control system embedding, etc., and can provide customized cross-border payment system solutions for different customers’ business scenarios.
It is understood that the cross-border payment-related technical services launched by Beyondsoft cover the entire life cycle of the system, including building a cross-border payment core system from scratch that meets regulatory requirements, as well as architectural upgrades and functional iterations of existing old systems. It can realize multiple functions such as automatic settlement of multiple currencies, optimization of cross-border transaction paths, multi-country regulatory compliance verification, and real-time warning of transaction risks. It can help customers significantly reduce the error rate of cross-border payments, improve the timeliness of payment, and reduce compliance risks.
At present, the company’s related services have covered many core overseas trade areas of China such as Southeast Asia, Europe, and North America, and can adapt to the payment and settlement rules and data security requirements of different countries and regions.
Industry analysts pointed out that the current scale of the global cross-border payment market is still maintaining rapid growth. The annual transaction scale of China’s cross-border payment alone has exceeded 20 trillion yuan, and has maintained an annual growth rate of more than 10%. The market space for related system technology services is very broad.
The relevant person in charge of Beyondsoft stated that in the future, the company will continue to increase investment in research and development in the field of cross-border payment related technologies, follow up on changes in regulatory policies in different regions around the world and optimize solutions, provide stable and efficient technical support for more payment institutions and foreign trade companies, and help China’s foreign trade overseas trade continue to improve its digital infrastructure.
