China’s IZP’s global online payment platform Globebill inked a deal witb Belgian business consulting company Cnext. After IZP and Lithuania’s Central Bank signed a bank card settlement agreement on, IZP signed another agreement with Cnext.
Both sides will work together to issue Euro-RMB dual-currency credit cards, supporting bilateral cross-border trade being settled based on RMB.
Belgium is located in the heart of Europe and is the headquarters of the European Union. Globebill will take Belgium as a starting point, gradually setting up a settlement network covering all of Europe, and building a global bank card association that provides cross-border settlement and RMB-local currency dual-currency services, helping to establish Globebill as a major player in the international settlements market.
Globebill is a cross-border payment financial company under IZP Group, providing SMEs with cross-border payment financial services. At present, Globebill has covered acceptance and payment networks in more than 104 countries and regions with the largest cross-border payment platform in China. Globebill is committed to reducing the costs for Chinese enterprises participating in global trade and improving cross-border trade facilitation.
Based on the old trade financial system, the U.S. dollar is the intermediary currency for cross-border trade settlement between China and Europe, which brings high payment costs and exchange risk to China’s small and medium-sized enterprises and lowers their profits and competitiveness in international trade. Globebill has been deploying a clearing and settlement financial network system based on the RMB since 2013 and accepted the bank card settlement license issued by the central bank of Lithuania, which allowed Globebill access to the entire European retail and acceptance system (SEPA – MMS) and real time clearing and settlement system RTGS, realizing the connection with the EU financial settlement system.
At the same time, Globebill’s innovated cross-border trade settlement VCCN (Virtual Cross-border Credit Network) is an effective alternative to the letter of credit in the traditional trade and financial system. We can further save transaction costs for cross-border trade, helping a large number of small and medium-sized enterprises to participate in international trade competition fairly.
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