LAS VEGAS--(BUSINESS WIRE)--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, https://makepaymentsnow.com. 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.
Geoswift is an innovative payment technology company connecting China and the rest of the world. The company is comprised by the world’s leading payment technology experts and by combining this deep understanding of the industry, technology, and global and China monetary policy, Geoswift provides clients with customized one-stop cross-border payment solutions to and from China. Geoswift is relied upon by the world’s leading e-commerce companies, most prestigious universities and the largest brands in the travel industry to grow their businesses. It is the #5 non-bank acquirer of UnionPay International in North America, a co-issuer of MasterCard, and a long term partner of many other leading financial institutions. It also maintains 24 currency exchange outlets throughout China. Geoswift is headquartered in Hong Kong with operating offices in Shanghai, London, Vancouver, Seattle and San Francisco for strategic and regulatory functions.