Geoswift moves into corporate cross-border payments

Source: Geoswift

-Geoswift, a leading provider of cross-border payments between China and the rest of the world, announced today it has launched a corporate payment solution to provide international firms an easy interface to collect payments in the Chinese yuan (CNY) from China.

The end-to-end payment solution will provide a secure and hassle-free pathway for corporations to collect CNY payments, a process which has traditionally been a complex and time-consuming one.

Geoswift partners with Western Union Business Solutions, a subsidiary of The Western Union Company (NYSE:WU), and UnionPay International, a subsidiary of China UnionPay, to provide end-to-end corporate payment services.

Corporations collect payments in CNY through Western Union Business Solution and Geoswift’s co-branded online payment portal, The payment is processed by Geoswift and UnionPay.

“Our customers in China are very important, so it is critical for us to look for ways to make the transaction experience for them as quick, simple and seamless as possible,” said Kerry Agiasotis, President of Western Union Business Solutions. “Working with Geoswift, we have built a solid and efficient solution where our clients can easily transact into and out of China in the yuan.”

“We are excited to once again be working with our valuable partners at Western Union and UnionPay International to help companies more easily conduct business in China,” said Raymond Qu, CEO of Geoswift. “Making international payments quickly and easily is now essential for any company operating on a global scale, and we are proud to be able to help some of the world’s largest brands grow their businesses in China.”

Geoswift, Western Union Business Solutions and UnionPay International have an existing agreement to provide tuition payment services at universities around the world.

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