Suning Cross-border Payment was Granted the Hong Kong Licence for Operating Money Service, Upgrading the One-stop Solution for Overseas Brands to Enter mainland China

USA - English

News provided by

Jul 19, 2021, 09:27 ET

NANJING, China, July 19, 2021 /PRNewswire/ -- In recent days, Suning Financial Services (Hong Kong)Co., Ltd was granted the "Licence for Operating Money Service" in cross-border payments in Hong Kong. Suning Financial Services also obtained their third cross-border "pass" for international payments, followed by their payment licence and VISA QSP certification. Such certifications further support overseas business expansion.

The approval of "Licence for Operating Money Service" in Hong Kong means it officially obtained permission to execute cross-border remittance and exchange business in Hong Kong. This lays a solid foundation for the next stage of overseas financial business deployment. The successful approval of the "Hong Kong Licence for Operating Money Service" marked that Suning Cross-border Payment has officially obtained permission to carry out cross-border remittance and exchange business in Hong Kong, laying a solid foundation for the next stage overseas financial business deployment. Suning Cross-border Payment, the first and only payment institution in Jiangsu Province holding cross-border foreign exchange payment business qualifications, expanded its business to the United States, Europe, Japan and other regions. It covers key industries such as goods trade, international logistics, air tickets, hotel accommodation, etc. Additionally, it supports cross-border foreign exchange settlements in 10+ mainstream foreign exchange currencies and RMB, distributing funds in 220+ countries and regions. It also has the fastest T+0 arrival of funds in the world.

Suning Cross-border Payment has always supported Suning International. The program of Suning International, "one-stop solution for overseas brands to enter mainland China," relies on its own multi-channel, multi-sector advantages and free trade zone resources, providing brands with cross-border strategy consulting services, customized retail solutions, global trade and other services. The program continues to win Suning International recognition from overseas brands.

The General Manager of Suning International, Melody Jia released this statement.

"The acquisition of this licence upgrades Suning Financial Service cross-border payment business capabilities and confirms further improvements in the 'one-stop solution for overseas brands to enter mainland China' service. By relying on the cross-border payment services provided by Suning Financial Services, we can realize the real-time exchange rates from onshore to offshore. In addition to that, we can provide safer and more convenient full-process payment services for overseas brands to enter the Chinese mainland market. As an imported supply chain retail service platform, the 'one-stop solution for overseas brands to enter mainland China' service can help more overseas brands take root in mainland China."

In the future, Suning International will continue to improve its global one-stop retail solutions. Suning International commits itself to create online and offline scenarios, experiential localized retail, marketing, and consulting solutions. We also wish to empower cross-border merchants and make the preferred entrance for overseas brands to enter the Chinese mainland market.

About Suning Group

Founded in 1990, Suning Group has two listed subsidiaries at home and abroad and more than 300,000 employees around the world, ranking the third in the Chinese private sector. Being committed to its mission of Leading the Industrial Advancements in Creating a Higher Quality of Life for All, it provides quality products and services to more than 700 million customers worldwide and has its business scope covering three main sectors: Retail, Real Estate, and Financial Service. Suning.com, the main subsidiary is a leading O2O smart retail service provider in China. In 2020, Suning.com maintained its position among the Fortune Global 500 and topped the 2020 List of China's 500 Most Valuable Brands with a brand value of RMB 296.815 billion.

About Suning International
Suning International is the international business arm of Suning Group, with two business platforms: cross border retail platform and leading cross border retail services provider Sup's. Suning International positions itself as an import supply chain retail service platform for the new decade, to fully empower growth and prosperity of global brands in the Chinese market.

Photo - https://mma.prnewswire.com/media/1576515/image_826669_35318721.jpg