Sending Payments to China? Problems?

Paying china suppliers

Does your company ever experience difficulties paying suppliers in China? So you have suppliers in China who need to be paid? There are a number of methods to pay them. However, some are safer, simpler and more cost effective than others. According to the World Bank, China is one of the top receiving countries of international remittances. Here are some tips to help you find the most cost effective, fast and secure option for paying suppliers in China: Check the Chinese currency rules It is very important to know that…

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TransferMate, simplifying trade within the Electronics Industry

FinTech Integration

Industry Overview The consumer electronics industry is a worldwide multibillion-dollar industry that we all rely on in our everyday personal and work lives. This huge industry is centred on the communication and entertainment industry and has played a key role in our technological and scientific evolution. To put a figure on it, the electronics assembly industry was valued at an estimated $1.3 Trillion in 2015 and is expected to grow to approximately $1.6 Trillion by 2020! Quite a figure! European Electronics Industry The European electronics market has experienced hard times in…

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Chinese Yuan becomes Ninth most Traded Currency globally

According to a report issued by the Bank of International Settlements, Chinese Yuan entered for the first time among the top ten traded currencies in the world. This marks the rise of China as the second largest economy in the world and the growth that the foreign exchange market is experiencing in the recent years. The Chinese Yuan vaulted to ninth in the Bank for International Settlements’ latest report on foreign-exchange turnover, surpassing the Swedish Krona and New Zealand Dollar, among other widely used currencies. The daily trading volume of…

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