remittance fx - airmoolah
TRANSCRIPT
Cross-border Payments and Cross-border Payments and Currency Exchange BusinessCurrency Exchange Business
with Chinawith China
PartnersPartners• China’s Central Bank (PBOC) has approved Guangzhou
Union Pay (GZUP) to conduct B2B cross-border payment business denominated in Renminbi (Rmb).
• Global Link (GLP), a Master Account Holder of GZUP, currently conducts Remittance business in Hong Kong;
• AirMoolah has partnered with MercuryFX to offer currency exchange – 60 currencies
• AirMoolah Hong Kong Limited, incorporated in Hong Kong, is the appointed entity to internationalize the Remittance Gateway.
AdvantagesAdvantages• GZUP wishes to establish and market this Cross-border
Payment Gateway to enable legitimate transactions to be performed seamlessly and efficiently with China
• Businesses will be able to transfer funds in Renminbi without converting to US Dollars before converting to Renminbi (and vice versa).
• Businesses need not go through the time consuming and complicated procedures that are faced in banks
Direct
AirMoolah’s MissionAirMoolah’s Mission
• AirMoolah’s role is to seek qualified Partners worldwide to work with GZUP. For example: Banks, Credit Unions, Trust Companies, Trustees Many financial institutions do not have direct inbound and
outbound facilities for funds transfer with China. We are interested to establish relationships with them.
Forex/Currency Exchange Companies Like financial institutions, FX or CE companies may not have
direct remittance gateways to China.
Money Transfer Companies Reputable Money Transfer Operators (MTO) that do not have
direct remittance gateways to China.
We handle legitimate B2B transactions!
Preferred TransactionsPreferred Transactions• Corporate entities that have the need to remit
monies in and out of China (and elsewhere worldwide):– Business transaction payments
• Supported by Invoices, Shipping documents, Agreements,
– Payroll• Individuals who wish to remit monies in and out of
China– International students - Tuition fees– Tourists industry– Insurance– Professional Fees
For Financing, Investment, Real Estate transactions, call us! We may have other solutions.
Inbound WorkflowInbound Workflow
EasyLink(Hong Kong)
GZUP Account
SAFE
Partner
GZUP’s Account in
CITIC HK
ChineseRecipient Bank
Account or UnionPay Card
Partner’s BankAccount in Hong
Kong
CITIC China
Sends funds to itsown CNY Account in HK
Instructs fundstransfer in
CNY Currency to GZUP’s account in CITIC Int.
GZUP pays IndusindMerchant in CNY
4.
6.
3.
2.
5.
Cross-Border Payment - Inbound to China
GZUP, Guangzhou
1.
OutsideChina
HONGKONG
Notification
Creditsin
CNY Currency to GZUP’s account in CITIC China
CHINA
GZUPHas access to
Recipient’sBank Account & UnionPay
Card
6a.
ORSends Rmb, USD, CNH,
Euro, etc.
1a.
Outbound WorkflowOutbound Workflow
Cross-Border Payments - Outbound from China
EasyLink(Hong Kong)
GZUP AccountSAFE
Partner
GZUP’s Account in
CITIC HK
ChinesePayer
Partner’s BankAccount in Hong
Kong
CITIC China
Pays recipient
Transfers collectedFunds in CNY to
GZUP account in CITIC China.
4.
6.
3.2.
5.
GZUP, Guangzhou
1.OutsideChina
HONGKONG
Completes
Collection Authorization
Agreementwith Partner which
authorizesGZUP to collect funds
from UnionPay Account for transfer
CreditsCNY GZUP’s
account in CITIC HK
CHINA
7.
Pays
Notifies
Recipient
SAFE monitors transaction
Process of RelationshipProcess of Relationship
• AirMoolah qualifies Partner• AirMoolah obtains Partner’s corporate profile• Complete bi-lingual NDA with GZUP• Complete Account set up with GZUP by signing
Agreement• Global Link will be co-ordinating with you after
these steps are done.
We also have relationships with ChinaPay which has the P2P license in China.
