Questions:

    * What Is "Alipay Cross-border Epayment" Service?
    * How Will International Online Merchants Benefit from Alipay's Cross-border Epayment Service?
    * Do You Need to Set up a Company And Open a Bank Account in China?
    * How Will the Exchange Rate Be Determined in the Payment in Your Cross-border Epayment Service Process?
    * When Will the Sellers Receive the Payment?
    * How Will Transaction Disputes Be Resolved?
    * What Languages Will the API Technical File Support?

01
What Is "Alipay Cross-border Epayment" Service?

      Alipay Cross-border Epayment Service refers to that the buyers will directly use RMB to buy the commodities on international merchant websites, and Alipay will pay foreign currencies to the international merchants in settlement.
02
How Will International Online Merchants Benefit from Alipay's Cross-border Epayment Service?

      Currently, Alipay has more than 470 million users, facilitating a daily transaction volume of RMB 2.0 billion (US$298 million) and nearly 7.0 million daily transactions. Therefore, this business will help international merchants to open access the Chinese market at a low cost and with high efficiency. This will allow more contact with online consumers in the Chinese mainland.
03
Do You Need to Set up a Company And Open a Bank Account in China?

      There is no need to set up a company and open a bank account in China. We will sign an agreement with any international merchant company and will directly enter the transaction amount to the merchant's international banking account.
04
How Will the Exchange Rate Be Determined in the Payment in Your Cross-border Epayment Service Process?

      The exchange rate used in the Cross-border Epayment Service is the spot exchange selling price of foreign currencies against RMB at a certain time-point on the transaction day provided by the settlement bank (presently China Construction Bank or Bank of China). When a buyer purchases a product from international websites, this exchange rate will be used to convert the foreign currency into RMB and the converted RMB amount will then be deducted from the buyer's account.
05
When Will the Sellers Receive the Payment?

      When the buyer has made the payment, the amount will be drawn and allocated to the bank for international settlement, and will be entered into the buyer's account in an international bank when the agreed settlement amount or settlement time is met.
06
How will Transaction Disputes Be Resolved?

      Transaction disputes will be resolved by consultation between the buyer and the seller. If a partial or whole fund refund is required due to any problem arising from a purchased goods, based on the consultation between the buyer and the seller, the merchant will file an application with Alipay within 90 days of the date of transaction for the returning of payment to the buyer at the original exchange rate. The exchange rate profit or loss will be assumed by Alipay.
07
What Languages Will the API Technical File Support?

      Currenly, it supports four languages: ASP, PHP, JAVA and .NET.

Source from Alipay

www.todayisp.com

Todaynic.com International Limited

ICANN CNNIC HKDNR Accredited Registrar