The evolution of third-party cross-border payment platforms has always mirrored the transformation of the global e-commerce landscape. As internet penetration rises, global purchasing power strengthens, and logistics and financial infrastructure mature, online shopping has become a dominant consumer behavior worldwide. This shift has cemented cross-border e-commerce as a key driver of international trade — and with it, the demand for reliable, compliant, and efficient cross-border payment solutions.
However, recent years have seen a slowdown in the explosive growth of e-commerce, leading the cross-border payment sector into a more stable, maturation phase. Without disruptive new business models or emerging markets, sustained high growth is challenging. Yet within this plateau lies opportunity.
Post-pandemic economic recovery, surging demand in travel and international education, the digital integration of the Guangdong-Hong Kong-Macao Greater Bay Area, and a new wave of SMEs expanding overseas have reignited momentum. B2B and B2C cross-border trade continue to grow rapidly, creating fresh demand for innovative financial services.
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As the global cross-border payment market evolves in structure and scale, new challenges persist: high transaction costs, slow settlement times, limited access, and lack of transparency. Payment platforms must not only comply with diverse regulatory environments but also offer tailored solutions for different business models — especially for small and medium enterprises (SMEs) venturing abroad.
The industry’s shared vision? To build faster, cheaper, more transparent, and inclusive cross-border payment systems that empower businesses to scale globally with confidence.
Below is an overview of 20 leading Chinese third-party cross-border payment platforms shaping this future.
LianLian Global
LianLian Digital, founded in Hangzhou in 2009, launched LianLian Global as its flagship brand. It was among the first in China to receive approval for cross-border foreign exchange payments in 2015.
Today, LianLian supports over 20 major platforms including Amazon, eBay, Wish, and Shopee, serving clients in more than 100 countries. Its comprehensive services span cross-border payments, global collections, currency exchange, and fund disbursement. In 2021, it partnered with Visa to launch a global business payment solution.
With five funding rounds completed and plans for a Hong Kong IPO on the horizon, LianLian is poised to reach a valuation near RMB 20 billion.
PingPong
Founded in 2015 in Hangzhou, PingPong has emerged as a major innovator in cross-border payments. Operating in over 200 countries through more than 20 global offices, it serves as one of the world’s largest cross-border financial service providers.
PingPong is unique as the only Chinese company holding payment licenses in the U.S., EU, Japan, and Hong Kong. It integrates compliance, security, and convenience into a unified digital finance platform tailored for e-commerce exporters. By connecting with Amazon’s top 10 marketplaces and other key platforms like Newegg and Shopee, it delivers end-to-end fintech services.
Valued at over $1 billion after its 2019 D-round, PingPong is preparing for a listing on China’s ChiNext board.
Sunrate
Established in 2016 and headquartered in Shanghai, Sunrate specializes in digital global payments and currency risk management for enterprises in general trade, e-commerce, and online travel.
With offices in Hong Kong, Tokyo, Singapore, Jakarta, and London, Sunrate enables operations in over 130 countries. It partners with major banks like Citibank and Standard Chartered and is a member of both Mastercard and Visa networks.
In December 2021, Sunrate secured a Series C round led by SoftBank Asia, with participation from Redpoint China and other existing investors.
Airwallex (空中云汇)
Founded in 2015 and based in Hong Kong, Airwallex operates across Asia-Pacific, Europe, and North America with 12 global offices. It supports transactions in over 50 currencies across 130+ countries.
Airwallex offers virtual bank accounts, low-cost international collections, multi-currency cards, and API-driven solutions for large enterprises. Its new R&D center in San Francisco underscores its commitment to building robust global financial infrastructure.
Backed by Sequoia Capital China in a $100 million E+ round in 2021, Airwallex continues rapid expansion.
XTransfer
Shanghai-based XTransfer was founded in 2017 to lower entry barriers for SMEs engaging in global trade. It provides cross-border collection, FX conversion, and anti-money laundering (AML) risk control services.
Holding licenses in Hong Kong, the UK, U.S., Canada, and Australia, XTransfer connects small exporters with major financial institutions through an intelligent AML infrastructure. Its unified multi-currency settlement platform ensures SMEs access enterprise-grade financial services.
In September 2021, it raised around $100 million in a Series D round led by D1 Capital Partners.
PayerMax
Launched in 2020 by茄子科技 (Qiezi Tech), PayerMax focuses on emerging markets. It has obtained payment licenses in Thailand, UAE, and the Philippines.
Supporting over 350 payment methods and 30+ currencies across 50+ countries, PayerMax delivers seamless cross-border collections and payouts. It holds PCI-DSS certification and offers subscription billing and merchant account management.
Its OPS license from the Philippines central bank marks a major regulatory milestone.
Tuotuo Digital (驼驼数科)
Founded in 2020 in Beijing, Tuotuo serves the entire cross-border ecosystem — sellers, platforms, enterprises, and financial institutions. With over a decade of industry experience, its team leverages AI and big data for smart risk control and global payment systems.
As an early SWIFT member in China, Tuotuo holds multiple international certifications. In August 2022, it secured millions in A-round funding from Dewu Capital to strengthen B2B risk management and core technology.
iPayLinks
Established in 2015 in Shanghai’s Lujiazui district, iPayLinks targets high-end sectors like aviation, brand e-commerce, and digital entertainment.
With offices from Singapore to Dubai and Level-1 PCI-DSS certification, it offers global credit card processing and local payment methods. It’s the first Chinese fintech company licensed to operate in Saudi Arabia.
Backed by Tencent and Legend Capital in a 2018 B1 round, iPayLinks continues to expand regionally focused solutions.
Skyee
Founded in 2016 in Guangzhou, Skyee was China’s first Euro-denominated payout platform. Now part of Lakala Group since 2021, it operates in the U.S., UK, Japan, Hong Kong, and India.
It serves over 100 countries with solutions for e-commerce collections, FX management, and supplier payments. In June 2021, it received strategic investment from Kaola Fund.
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Qbit
Based in Hangzhou since 2019, Qbit combines blockchain technology with traditional finance to build next-gen clearing networks. It offers global collections, payments, and its proprietary “Quantum Card.”
Serving over 3,000 outbound brands across four service centers globally, Qbit raised tens of millions in an A-round from ZhenFund in July 2021.
Oceanpayment
Founded in 2014 with dual HQs in Shenzhen and Hong Kong, Oceanpayment serves cross-border gaming, tourism, media, and e-commerce sectors.
It holds full FinTech licenses globally — including PCI DSS Level-1 — and supports over 500 payment products across 200+ countries. It’s certified by Visa, Google Pay, and Apple Pay PSPs.
Backed by Primavera Capital since its Pre-A round in 2015.
WorldFirst
Founded in the UK in 2004 and acquired by Ant Group in 2019 for ~$700 million, WorldFirst brings over 18 years of experience to Chinese exporters.
It operates globally with offices in 19 cities across eight countries. Services include international transfers, FX options, e-commerce collections, and settlement — all backed by strong compliance frameworks.
PhotonPay
Launched in 2015 by Shenzhen-based Photon Leap Technology, PhotonPay provides compliant cross-border collections and FX services across Asia, North America, EU, and UK.
Holding MSB licenses in the U.S. and MSO status in Hong Kong, it processes over 60 currencies for more than 100,000 businesses globally.
Ping++
Shanghai-based Ping++ (Jianmi) was founded in 2014 as a B2B payment aggregator. Its cloud-based platform integrates multiple payment channels via a single SDK.
PCI-certified since 2016, it simplifies integration for platforms needing multi-channel support while avoiding “secondary clearing” risks under Chinese regulations.
Raised a $10M+ B-round from Broadband Capital in early 2016.
Gleebill
Established in 2016 as a subsidiary of Shenzhen Dingfu InfoTech Corp., Gleebill specializes in secure cross-border collections for Chinese e-commerce sellers.
Its team includes pioneers from China’s early foreign card acquiring industry. It partners with VISA, Mastercard, JCB, AE — offering virtual accounts, pre-authorization payments — all tailored for North America, Europe & Japan markets.
YouWorld
Founded in Shenzhen in 2016 as a B2B2C platform linking overseas merchants with distribution channels. YouWorld helps brands manage coupons and content through proprietary systems.
Its “YouPay” product integrates with Alipay+, WeChat Pay+, Ctrip — offering discounts to overseas Chinese consumers while streamlining merchant transactions.
Raised $5.5M in an A-round from GSR Ventures (lead) and Kunlun Group in September 2021.
Useepay
Founded in 2019 under Shanghai Yikun Technology Co., Useepay focuses on “no-jump” payment solutions for independent e-commerce sites.
With transaction success rates exceeding industry averages by 5–7%, Useepay supports over 100 currencies. It holds PCI-DSS Level-1 certification and offers wallets, bulk payments — serving industries from gaming to education.
PayEase
One of China’s earliest players (founded 1998), PayEase is headquartered in Beijing. It was the first platform to enable multi-bank online transactions across regions.
Directly connected to UnionPay and 23 national banks — supporting Visa/Mastercard/AE/JCB — PayEase powers Apple Inc., Amazon China & Shopify merchants. Licensed for foreign exchange (2014) and RMB cross-border payments (2015).
Secured $14.5M funding from U.S.-based WI Harper Group & others in November 2006.
Beepay
Established December 2016 in Hong Kong as a tech-driven financial firm using smart algorithms to access interbank FX markets. Its automated routing optimizes global payments with strict AML controls.
Serves large Chinese exporters on platforms or standalone stores — offering FX conversion, cross-border settlements — even trade financing solutions.
Completed a Pre-A round with Linear Capital in March 2019.
Yisilu (EasyTransfer)
Founded in Beijing in 2013 as a leading study-abroad tuition platform serving over 20K students annually across 170+ institutions globally.
Its Check x2 system enables submissions within minutes with full compliance support. Partnered with UnionPay International (2018), Tencent (co-launched Tencent Study Abroad Payment), expanding internationally since 2021.
Backed by Tencent IDG Capital New Oriental True Global Capital among others — raised near RMB 100M B-round from CITIC Capital Partners (CITIC PE) March 2019.
Frequently Asked Questions
Q: What drives innovation in Chinese cross-border payment platforms?
A: The rise of SMEs going global combined with stricter compliance demands pushes platforms to deliver secure yet seamless financial infrastructure tailored to e-commerce needs.
Q: How do these platforms ensure regulatory compliance?
A: Leading providers obtain local licenses (e.g., U.S. MSB), maintain PCI-DSS certification at Level-1 standard — while partnering with regulated banks to ensure full legal adherence globally.
Q: Are these platforms only useful for e-commerce businesses?
A: No — many serve sectors like education (Yisilu), aviation (iPayLinks), gaming (Oceanpayment), SaaS & digital services — adapting offerings based on industry-specific flows.
Q: Can startups use these services effectively?
A: Absolutely — platforms like PingPong XTransfer Sunrate offer low entry barriers ideal for early-stage exporters needing fast setup without complex banking relationships.
Q: What role does technology play beyond basic transactions?
A: Advanced players use AI big data blockchain automation — not just for speed but fraud detection dynamic routing real-time FX pricing customer experience optimization.
Q: Why are some platforms expanding into multi-currency cards or treasury management?
A: To become full-cycle financial partners — helping clients manage cash flow expenses operations holistically rather than just moving money across borders.
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