IZP Group's Globebill Signs Bank Card Settlement Agreement with Saudi Arabia

BEIJING, Sept. 18, 2015 /PRNewswire/ -- After the implementation of the Kyrgyzstan bank card settlement project in central Asia, leading worldwide online payment expert Globebill signed a bank card settlement cooperation agreement in Saudi Arabia. It is a further step for Globebill toward deploying cross-border trade settlement facilities in countries along "One Belt and One Road".

On April 21, IZP group president Luo Feng and Prince Fahd bin Muqrin from the Saudi royal family signed an agreement for payment, bank card settlement business in Jeddah, Saudi Arabia.

Globebill will set up a payment and bank card settlement system in Saudi Arabia for issuing credit cards to individuals and enterprises, ensuring that the trade between China and Saudi Arabia can be paid and settled through Globebill's platform.

Globebill is among the first batch of enterprises to provide the 3rd party payment platform. The company has gained the Internet payment license and bank card acceptance license issued by the People's Bank of China, and was among the first cross-border e-commerce and foreign exchange payment pilot enterprises approved by Visa QSP and the State Administration of Foreign Exchange. Globebill mainly provides cross-border payment and financial services, establishing a financial channel for merchants and global trade.

At the same time, both sides agreed that they will jointly promote the implementation of Globebill's payment and settlement service and issuance of personal and corporate credit cards in the entire Middle East and North Africa region.

In 2013, China imported 53.9 million tons of crude oil from Saudi Arabia. The trade volume between the two countries reached 72.2 billion US dollars, and China is now the second largest trading partner of Saudi Arabia.

SOURCE IZP Technologies Group