Cross border payment start Sea Amoy free RMB fee

Shanghai headquarters of the people’s Bank of China announced on February 18th, in Shanghai free trade area to start the payment institutions cross-border RMB payment business pilot. UnionPay payment, quick money, communications and other 5 Payment institutions and cooperative banks signed docking. According to the central bank issued Payment institutions to carry out the "Shanghai city on the implementation of the views of cross-border Renminbi payment services" (hereinafter referred to as the "opinions"), Payment institutions to meet the conditions, will be able to carry out cross-border RMB payment business.

this means that in the future through the third party payment agencies, consumers can directly use the RMB sea Amoy, domestic enterprises can also be directly used to carry out cross-border RMB business. The industry believes that this is an important measure to facilitate cross-border trade, expand cross-border use of rmb.

UnionPay payment relevant person in charge told the daily economic news reporter, Shanghai FTA RMB cross-border payment services will be used in all aspects of the rmb. The risk will be smaller, the operation is also more convenient, the user through the RMB cross-border payment channels in overseas electricity supplier website shopping and experience with the domestic website shopping is not much difference."

can also save money to redeem the sea Amoy

Chinese consumers to support the world’s largest e-commerce market, and now, foreign electricity suppliers can also share the purchasing power of Chinese consumers. UnionPay payment official told the "daily economic news" reporter, due to different needs for currency conversion, both sides of the online trade there are some obstacles, the use of all the links and the future of RMB cross-border payment services are: RMB RMB, RMB payment and RMB settlement exit.

Xinhua News Agency reported that

, 18 employees in the field of electronic payment contract at the signing of the sea Amoy foreign wine. After the completion of the payment of cross-border RMB payment through the cup, in addition to the purchase price and freight, consumers do not need to pay other fees, but also eliminates the trouble of exchange.

in fact, in some overseas shopping sites, paypal and other foreign third party payment agencies, but also to use the RMB payment. So, what are the advantages of the third party payment institutions to pay cross-border RMB


, e-payment general manager Sun Zhanping told reporters: "if PayPal ‘sea Amoy’, although the Chinese consumers spend is RMB, money is the actual receipt of merchants in foreign currency, exchange rate may occur during relatively large fluctuations. Now allow the third party payment institutions after the cross-border RMB payment, from the consumer to the clearing organization to the bank to the merchant, are denominated in RMB and valuation. This will avoid the risk of exchange rate changes." Reporters found that, although the third party payment institutions cross-border RMB payment has opened a hole, but the site does not support the service is much more. Sun Zhanping said: the cup has been with a number of overseas airlines, hotels, but to support cross-border RMB payment, foreign companies also need to open a RMB account, access to regulatory agencies, etc.

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