XTransfer targets $20t market with Alipay-style instant transfers

 Buyers and sellers can complete transfers 24/7 in as fast as 15 minutes.

Financial technology company XTransfer Global Pte. Ltd. is positioning itself as the business-to-business (B2B) equivalent of Alipay or PayPal, promising faster, more flexible cross-border payments for small and medium enterprises (SME).

“As we’re getting more licenses globally, we are able to roll out services not only to China and Hong Kong merchants, but also to overseas markets,” Violas Xiao, Singapore CEO at XTransfer, told Asian Banking & Finance.

XTransfer’s platform, X-Net, allows buyers and sellers to complete wallet-to-wallet transfers instantly, 24 hours a day, seven days a week.

“The end-to-end solution can happen within 15 minutes, instead of days or weeks like in a US dollar Swift payment,” Xiao said.

As of 2025, XTransfer had a network of 800,000 cross-border traders worldwide and claims the top spot as China’s number one B2B cross-border trade payment platform.

The company is also building a bridge for banks to serve SMEs more efficiently, with capabilities that let suppliers withdraw funds instantly from overseas accounts.

The B2B cross-border payment market for SMEs is estimated at $20t, according to the World Trade Organization and Organisation for Economic Co-Operation and Development.

Yet most transactions still rely on traditional bank transfers, which involve multiple intermediaries—banks, payment platforms, and clearing institutions—adding cost and delays.

To streamline this process, XTransfer has partnered with global banks including JPMorgan Chase & Co. and Deutsche Bank AG, gaining access to liquidity, pricing, and trade settlement capabilities.

The platform also lets buyers pay in their preferred local currencies, bypassing traditional foreign exchange steps.

In markets where banks lack the technology, XTransfer works with local fintechs to scale its platform. “In some emerging markets where the banks may not serve us well, we will consider fintech partners as well,” Xiao said.

XTransfer is also enhancing risk management and compliance. The platform connects to know-your-business (KYB) vendors and, in China, integrates with government portals to verify SME profiles using registration numbers rather than paper documents.

Xiao said similar partnerships are being rolled out in other countries to make onboarding easier whilst meeting regulatory rules.