Shanghai’s Fuiou Pay, Visa team up to offer cross-border funds collection, settlements

Customers can now access more than 30 currencies at competitive FX rates.

Shanghai-based payment company Fuiou Pay has teamed up with Visa Cross-Border Solutions (VXBS) to offer cross border funds collection and settlement solutions.

Through this partnership, Fuiou Pay will now be able to offer cross-border funds collection and settlement solutions, and access more than 30 currencies at competitive foreign exchange (FX) rates.

Fuiou Pay has also obtained Visa's acquiring membership so they can facilitate payments within Mainland China with cards issued by overseas issuers.

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Hu Tao, Director of Fuiou Pay Business to Business Cross-Border Payment Department, noted VXBS’ ability to support remittance from more than 200 countries and territories worldwide with more than 30 currencies.

“[This] provides convenience for our clients who are global traders and helps us better serve all our clients,” Mr. Hu Tao said.