From the table above, we can see that first of all,

[rifattryo.ut11]

In cross-border payment, we assume that the transaction currency is the currency that the card organization or the acquiring institution may convert into for clearing. The final settlement currency to the merchant may be the settlement currency required by the merchant. For example, a merchant conducts e-commerce business in Europe. The acquiring currency is the euro. After receiving the euro, the acquiring institution converts it into US dollars for clearing and charges a handling fee. The final settlement to the domestic merchant is RMB. .Different regulatory requirements In terms of regulatory requirements, we can actually divide them into market access, transaction authenticity, transaction limits, and other aspects.



Let's use a table to summarize them. engaging in cross-border israel phone number format payment business generally requires cross-border RMB business qualifications or foreign exchange business qualifications. At present, domestic companies engaged in cross-border payment business generally have both qualifications at the same time. In addition, there is a special case, that is, institutions holding overseas payment licenses hope to engage in cross-border payment business. In this case, it is generally necessary to cooperate with domestic institutions holding cross-border business licenses to complete it.



Secondly, from the perspective of transaction authenticity review, China generally focuses more on the compliance and authenticity review of merchants. Cross-border payment also requires review of the true and legal background of the transaction.The reason for this is that many payment transactions actually take place overseas. When the funds are returned to China for settlement after these transactions, domestic regulators actually have no way of knowing whether the transactions are real. If they are not real, there will be a risk of money laundering. Therefore, whether the funds are entering or leaving the country, whether there is a real transaction background behind the flow of funds is also a question that regulators are very concerned about.