建全球总部、拿下支付牌照！杭州的全球跨境支付机构又有新进展

This article discloses the latest business progress of two leading cross-border payment institutions based in Hangzhou, as well as Hangzhou's overall plan to build itself into a national highland for cross-border payment. Key takeaways are as follows:

1. Hangzhou plans to build the world's first cross-border payment and settlement center. It has already gathered multiple leading industry players with service networks covering the globe. Recently, Coral Cross-border won the bidding for a commercial plot in the core area of Hangzhou's Xihu District, where it will build a 10,000-square-meter global headquarters and digital trade industrial center. It has also officially joined the cross-border e-commerce industry alliance of the Yangtze River Delta G60 Science and Technology Innovation Corridor, focusing on "digitalization + cross-border services" and providing one-stop comprehensive services including cross-border payment and settlement and supply chain finance.

2. Another leading player, PingPong, has officially obtained the PJP payment license issued by Bank Indonesia. It now holds more than 60 payment licenses across multiple countries and regions globally, and is the only Chinese payment institution that holds payment licenses in all of the world's top eight economies. It can meet various payment needs for both global and Chinese enterprises expanding overseas.

Key takeaways for cross-border brands:

1. Consumer and market trend: Cross-border e-commerce is entering a new phase of rapid growth. As Southeast Asia's largest e-commerce market and the world's fourth most populous country, Indonesia has a population of 280 million, an average annual GDP growth rate of around 5%, and its 2024 GDP is expected to reach $1.48 trillion. Combined with its young population structure and high internet penetration, it is a high-quality incremental market for brands going global, with massive unmet demand for cross-border payment services.

2. Business support: Brands expanding overseas need to prioritize enhancing technological and brand strength, and integrate digital technology into business operations. Leading compliant payment institutions have emerged to solve common cross-border payment pain points: PingPong's local payment license in Indonesia is recognized by local regulators, enabling it to provide compliant, low-cost one-stop payment and settlement services; Coral Cross-border also offers digitalized one-stop comprehensive cross-border services to support brands in expanding into global markets. Meanwhile, Hangzhou's development of a global cross-border payment and settlement center has created a more convenient overall payment service environment, which is conducive to brands' global expansion layout.

Key takeaways for cross-border sellers:

1. Incremental market opportunity: Indonesia is currently one of the most promising incremental markets for cross-border expansion. It boasts a large population, strong growth potential, a young demographic and high internet penetration, with huge room for e-commerce development, making it a top priority for sellers looking to expand globally.

2. Payment-side benefits: To address common payment pain points for sellers entering Indonesia, leading payment provider PingPong has obtained an official local payment license recognized by Indonesian regulators. It can provide sellers with compliant, convenient one-stop payment collection and settlement services, and has direct connections with local banks and e-commerce platforms, effectively reducing payment costs and improving processing efficiency.

3. Industry development note: Today's cross-border e-commerce requires sellers to integrate new technologies such as artificial intelligence and big data into operations. Sellers can partner with digitalized cross-border service providers like Coral Cross-border to access one-stop support covering payment, settlement and supply chain finance, and reduce operational risks when expanding overseas.

Key takeaways for manufacturing factories planning cross-border e-commerce expansion:

1. Industry development insight: Cross-border e-commerce is entering a new phase of rapid growth. For Chinese factories building their own brands overseas, it is increasingly important to enhance technological and brand competitiveness, integrate the digital economy with the real economy, and apply new technologies such as artificial intelligence, big data and cloud computing to cross-border business to speed up digital transformation.

2. Business opportunity: Hangzhou is building the world's first cross-border payment and settlement center, which is creating a more convenient and secure cross-border payment environment. Leading payment institutions are continuously improving their global service networks, and can solve the compliance pain points for factories expanding overseas, cutting operational costs and compliance risks.

3. Industrial ecosystem opportunity: Coral Cross-border will build its global headquarters and digital trade industrial center in Hangzhou, and will integrate the cross-border industrial chain for coordinated development in the future. Factories can access various resources through this ecosystem, enjoy one-stop payment settlement and supply chain financial services, and expand their global business more efficiently and securely.

Key takeaways for cross-border service providers:

1. Industry development trend: Cross-border e-commerce is currently experiencing a new wave of rapid growth, and more companies are expanding into emerging markets, particularly large markets such as Indonesia in Southeast Asia. Both outward-expanding enterprises and local cross-border businesses have generated huge demand for localized and compliant cross-border payment services. Global localized operation with local licenses has become the core development direction for cross-border payment service providers.

2. Core customer pain points: Enterprises expanding overseas have strong demand for compliant, low-cost, high-efficiency one-stop payment collection and settlement services. Services provided by providers without local payment licenses face high compliance risks, low processing efficiency and high costs, which cannot meet customer needs.

3. Industry development reference: Leading players have developed proven mature business models. PingPong has laid out a global network with more than 60 payment licenses, covering all of the world's top eight economies. Coral Cross-border adopts a "digitalization + cross-border service" strategy and builds an ecosystem by integrating the industrial chain. These models are valuable references for industry peers. Meanwhile, Hangzhou's plan to build a global cross-border payment and settlement center also provides favorable policy and industrial soil for service providers.

Key takeaways for cross-border platform operators:

1. Market demand: A growing number of global enterprises are布局ing emerging markets, while local Chinese enterprises are also expanding cross-border business, creating a huge unmet demand for compliant localized cross-border payment services. Demand is particularly strong in large emerging markets such as Indonesia. Platforms can partner with compliant licensed leading payment institutions to improve their own payment service capabilities and enhance user experience.

2. Operation and risk mitigation reference: Payment compliance is the core risk point for cross-border platform operation. When expanding into overseas markets, obtaining relevant licenses recognized by local regulators is a prerequisite to legally connect with local financial institutions and e-commerce platforms, effectively reduce compliance risks, improve payment efficiency and cut overall operating costs.

3. Ecosystem and investment promotion: Hangzhou is building a source of innovation for digital trade. Coral Cross-border is establishing its global headquarters and digital trade industrial center to integrate resources across the entire cross-border industrial chain. Platforms can access these resources to attract leading institutions and industrial chain enterprises to settle in, and improve their own cross-border e-commerce ecosystem layout.

Key takeaways for cross-border payment industry researchers:

1. New industry development trends: China's cross-border payment industry is currently moving in two clear new directions. First, leading institutions are accelerating global expansion by acquiring local payment licenses to improve their service networks: leading player PingPong now holds more than 60 payment licenses globally, and is the only Chinese institution to hold licenses across all of the world's top eight economies. Second, leading players are rooting in domestic policy highlands to build global headquarters and integrate industrial chains: for example, Coral Cross-border has acquired land in Hangzhou's core area to build its global headquarters and digital trade industrial center.

2. New business model exploration: Leading cross-border payment institutions are generally exploring a new "digitalization + comprehensive cross-border service" business model, integrating technology and data resources to provide enterprises with full-link one-stop services including payment collection, settlement and supply chain finance, while focusing on localized licensed operation to meet the needs of different enterprises' global expansion.

3. New changes in policy and industrial environment: Hangzhou is building the world's first cross-border payment and settlement center, and the Yangtze River Delta is promoting coordinated development of the cross-border e-commerce industry. The overall policy environment supports the development of cross-border payment and cross-border trade industries, providing a solid foundation for industrial growth.