Case Study: XTransfer achieves faster, more cost-efficient cross-border payment collection with Currencycloud

Xtransfer Delivers Faster, More Efficient Cross-border Payment Collection For Smes

XTransfer, a Shanghai-based fintech company serving SMEs in more than 200 countries and regions, wanted to reduce the barriers and cost of global expansion for cross-border trade customers. It had to deal with high bank fees, delays from intermediary banks, and the challenge of meeting complex regulatory requirements across different jurisdictions.

XTransfer partnered with Currencycloud in 2018 and used its modular APIs, local collection capabilities, and risk and compliance tools to build faster cross-border payment collection services in Canada, Europe, and the United States. With Currencycloud, XTransfer says it reduced costs by 80 percent and cut time to launch by four to five years while giving customers a more convenient payment experience.

XTransfer

Violas Xiao

Chief Executive Officer