PagoNxt Payments has taken a significant step in the field of international payments by launching a new strategic corridor that facilitates real-time payment services towards ChinaThis breakthrough is achieved through a collaboration with a local Chinese bank, enabling direct settlement of payments using local schemes. From today, this solution is available as a wholesale service for financial institutions and corporations.
The corridor offers Greater reach and efficiency, allowing for fast and traceable payments in renminbi, US dollar or euroThis differential proposition eliminates intermediaries from the payment chain, thus improving delivery dates and providing access to local exchange rates. Customers can choose their preferred channel to initiate payments: API integration, Swift or the PagoNxt portal.
Jose Luis Calderon, CEO of PagoNxt Payments, said: “We are pleased to announce this agreement with a local Chinese bank to add a strategic solution to the portfolio of services we currently offer.” This new corridor represents a significant advance all with providing interoperability from Europe to China.
PagoNxt Payments is a unit within the Santander Group which enables wholesale cross-border capabilities through a single connection. The Chinese corridor joins twenty other corridors developed by the company, covering key regions from the Americas to Asia-Pacific.
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