Bonita Springs, FL – CSI globalVCard, a leading provider of electronic payment solutions, announces the appointment of Jia Liu to Vice President of International Payments to lead the company’s expansion into China. A predominantly cash market until recently, AdAge reports that China has been one of the fastest countries to ditch cash in favor of alternative payments, including both mobile payments and financial card usage.
With the February 2016 launch of Apple Pay in China, followed by Samsung Pay in April, new entrants continue the battle to pull market share from entrenched players WeChat Payment and Alipay. Competition is also intensifying in the financial cards space as reported by Euromonitor, with healthy growth rates expected in the coming years.
While the fintech industry is soaring in China, the advancements have largely been targeted to the consumer market. Little has changed in the way of business payments. CSI globalVCard is laying the framework to change that through its global payment platform and strategic alliances.
“We are eager to bring our 26 years of payments industry expertise into China and meet the need for simpler, more secure business payment alternatives,” said Liu. “There is a wave of innovation engulfing the consumer market in China and it is very exciting. With our globalVCard paysystems platform, CSI is well-positioned to bring similar excitement to the business payments space.”
Earlier this year, CSI announced its cross-border payments offering, which completed the award-winning ‘total AP’ platform, globalVCard paysystems. With one file upload, business payments can be issued and settled via virtual credit card, ACH, check or wire, anywhere in the world. The globalVCard platform can be integrated or white-labeled by strategic partners focused on bringing innovative payment solutions to business customers in China.
Liu and colleague Nick Waterhouse, International Business Development Director, will be attending the Payment China Summit in Shanghai May 25-26. Media or potential business partners interested in scheduling a meeting during this time may contact Liu in the company’s New York office at 239-908-3767. Learn more about secure, electronic globalVCard payment solutions at https://www.corporatespending.com/.