YeePay and TransferMate have entered into a strategic partnership to jointly build a new global cross-border payment ecosystem.

On January 5th, YeePay, a well-known Chinese third-party payment company, and TransferMate Global Payments, a leading global provider of cross-border payment infrastructure services, officially established a strategic partnership. Irish Prime Minister Michael Martin was invited to attend and witness the signing ceremony. Leveraging their respective core strengths in technology research and development, global network construction, and compliance systems, the two companies will jointly create efficient, secure, and convenient cross-border payment solutions, building a payment bridge for Chinese companies going global and global trading companies entering the Chinese market, and helping the global industrial chain upgrade its efficiency. Currently, the global trade digitalization process is accelerating, and payment demands in areas such as cross-border e-commerce and international travel are becoming increasingly diversified. Enterprises are continuously raising their requirements for fund transfer efficiency, compliance security, and multi-currency coverage. This strategic cooperation between YeePay and TransferMate will build a more competitive payment ecosystem through resource complementarity. As a payment service provider deeply rooted in the Chinese market for 22 years, YeePay has been committed to “transaction services, customer success” since its inception. It pioneered the B2B industry payment model and became one of the first institutions to obtain a pilot license for cross-border foreign exchange payment business from the State Administration of Foreign Exchange in 2013, completing the first third-party cross-border foreign exchange payment transaction in China. Leveraging its profound understanding of vertical B2B industries, YeePay has built a one-stop global payment service system, including mature service capabilities such as global collection, global payment, and global accounts. It can meet the diverse needs of different customers, achieving fully online operation and ensuring the safe and efficient flow of funds. In the future, YeePay will provide TransferMate’s global customers with customized cross-border payment solutions, focusing on supporting their multi-business needs in the Chinese market, covering core scenarios such as e-commerce platforms, B2B trade, and travel. At the signing ceremony, Yu Chen, co-founder of YeePay, stated, “China and Ireland have always maintained a deep and long-standing friendly relationship, continuously deepening cooperation in the fields of economic and trade, and increasingly close cultural exchanges. The cooperation between YeePay and the Irish company TransferMate is rooted in the fertile soil of friendly cooperation between the two countries, and is a vivid microcosm of the complementary advantages and win-win cooperation between Chinese and Irish enterprises. TransferMate’s mature global payment infrastructure, combined with YeePay’s years of accumulated local service capabilities, forms a precisely complementary strategic synergy. The implementation of this cooperation will not only provide Chinese enterprises with more efficient, secure, and convenient integrated overseas payment services, but will also help global enterprises smoothly connect with the Chinese market. This is precisely the practice of YeePay’s core mission of ‘transaction services changing lives.’” “The partnership with YeePay is a strategic choice for TransferMate to deepen its presence in the Chinese market,” said Vijay Rao, head of TransferMate. “The core position of the Chinese market in global trade is becoming increasingly prominent, and YeePay’s deep penetration and compliance service capabilities in domestic payment scenarios are key support for us to serve global clients entering the Chinese market. Through this cooperation, TransferMate’s clients will be able to leverage YeePay’s localization capabilities to improve their global operational efficiency, which is of great significance for their expansion in the Chinese market.” According to Hua Lei, Senior Vice President of YeePay, the two parties will open up their payment capabilities, leverage their industry experience to create differentiated advantages, and adopt a strategy of “keeping major currencies in line with trends and highlighting the characteristics of minor currencies” in terms of currency allocation. They will also precisely address regional business pain points through the construction of localized teams, fully empowering the “Pay to China” initiative and the overseas expansion needs of Chinese enterprises. According to available information, TransferMate holds 95 payment licenses globally, with a payment network covering more than 200 countries and regions. It will provide YeePay with local payment capabilities in core markets such as Europe, America, and Southeast Asia, helping Chinese enterprises “go global” and “go steadily and sustainably.” Looking to the future, both parties will continue to focus on the core needs of global trading companies, iterate payment technologies and service models, expand the scope of service industries and regions, promote the standardization and intelligent development of global payment services, and jointly build a new global cross-border payment ecosystem.