payermax was invited to attend the huawei cloud saudi arabia summit and deeply analyzed the new path of cross-border payment localization
2024-09-03
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on september 2, the financial technology company payermax was invited to attend the 2024 huawei cloud saudi arabia summit. during the event, payermax co-founder wang hu delivered a speech entitled "more than payment, driving localized business growth", revealing the complexity of the payment environment in the global diversified market, and deeply discussing how payermax can help companies overcome payment barriers and achieve global business growth through its unique "more than payment" matrix service system.
as globalization becomes the choice of more and more chinese companies, cross-border payment, as the underlying infrastructure of internet technology and one of the cornerstones of monetization of e-commerce, games, social networking and other overseas markets, is becoming a major challenge on the road to localization of enterprises. the huge differences in payment methods in different regional markets have led to very high costs for overseas companies to aggregate payments. companies need to understand a variety of complex payment methods, such as the bank card payment system in the middle east, the e-wallet in southeast asia, and the operator debit model in africa.
but this is far from enough. wang hu pointed out that before completing the aggregate payment, the merchants' primary concern is how to cover a wider range of regions and more payment methods to meet the payment needs of different markets. once the payment access is completed, the merchants' focus will quickly turn to more practical and critical issues such as payment success rate, payment cost and security.
due to the lack of understanding of local fraud risks, exchange rate fluctuation risks, compliance supervision, cultural customs and payment habits, overseas companies may encounter a series of problems such as payment fraud, serious exchange losses, and low payment success rate during their business development. they urgently need the support of professional cross-border payment service providers with comprehensive local service capabilities.
wang hu said that as a financial technology company that has been deeply involved in the cross-border payment field for many years, payermax is well aware that the essence of localization lies in firm long-termism, and the real competitive advantage comes from differentiated products built for specific markets and customized services for customers' special usage scenarios. to this end, since its inception, payermax has decided to deeply cultivate the local market, build payment infrastructure and local networks, apply for local licenses, establish close cooperation with local banks and regulatory agencies, and continuously consolidate its payment localization capabilities. on this basis, it has developed a matrix service system that is "more than just payment". while providing customers with professional payment solutions, it also provides risk control management, localized marketing, finance, law, taxation, and foreign exchange and other value-added services based on their diverse needs and different business focuses, providing companies with one-stop, customized cross-border payment solutions to help their business growth.
figure: payermax participated in seamless middle east 2024, the largest global online payment exhibition in the middle east
in june this year, payermax joined the saudi arabia regional headquarters program and announced the establishment of its middle east and north africa regional headquarters (rhq) in riyadh, becoming the first asian fintech company to set up a mena regional headquarters in saudi arabia. in the future, payermax will continue to increase its investment in local payment solutions and matrix service system construction to help customers make money globally.
