Geoswift Enables Customers to Scale Business Growth With Geoswift X, its New Suite of Cross-Border Payment Solutions

Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, has released an innovative collection of products and services – Geoswift X, to make cross-border fund flows even faster, cheaper, smarter and safer.

Geoswift X provides all the infrastructure global and Chinese clients need to power their growth and solve business challenges. The release of the innovative new solutions also helps Geoswift move towards its mission of providing the best cross-border payment solutions that are intelligent, frictionless, and fully compliant.

Driven by the desire to take cross-border solutions to the next level, Geoswift X has been designed as a new Platform-as-a-Service (PaaS) model, where its global and Chinese clients can find all the infrastructure necessary to mix and match whatever services they need, whenever they need them.

The five products and services are:

• GEOCOLLECTION: This enables overseas merchants to accept Renminbi payments and legally convert them into foreign currencies for clearing.
• GEOSETTLEMENT: A multichannel payment switch that is connected to a wide network of domestic payment service providers and Chinese banks. Through our switch, each payment transaction will be intelligently routed through the most trustworthy and reliable channel, thus achieving a quicker completion time.
• GEOREMIT: A remittance platform for P2P money transfer that is connected to an extensive list of domestic banks. Still growing in scope, the list represents 90 per cent of the banking industry in China.
• GEOCARD: Comprehensive card and wallet schemes across multiple card networks to facilitate settlements and payments.
• GEOFX: Geoswift runs a number of currency exchange stores across major cities in China, located in different areas from airports to city centers. All stores support over 20 types of currencies.

Together the services provide a cost-efficient, time-effective and easy-to-use platform for Geoswift customers to scale their business growth.

“Geoswift has helped unleash the power of frictionless, cross-border fund flows for institutions based in and outside of China since the company’s inception in 2010. The arrival of Geoswift X marks a new frontier in our business as it provides our customers with the next generation of cross-border payment solutions. With Geoswift X, our team of global and local experts can help both international and Chinese clients navigate the complexity and uniqueness of the Chinese market.” said Raymond Qu, Founder and CEO of Geoswift.