Fintech firm Paysera has confirmed the addition of a feature that allows businesses to buy goods, commodities and technology from China.
The payments can be made in US dollars to any manufacturer and supplier based in the Asian country.
Gintautas Mežetis, CEO of Paysera, said: “China and the US are the European Union’s main trading partners, which makes the money passage from Europe to these countries important for businesses that buy goods, technology, or production components.
“We have already supported US dollar transfers to the US, and now we have something to offer to those importing from China as well.”
Paysera reports that the European Union estimates daily imports from China to be totalling €1.3bn. In 2019, the total imports were valued at €363bn, while the same trade corridor reached €472bn in 2021.
The latest in Paysera’s global expansion comes as a result of a recent partnership with financial services platform Airwallex that opens up new fronts thanks to its footprint across Europe, North America and Asia.
At the time when the partnership was struck, Bashkim Zeqiri, VP of Paysera, commented: “We are very happy to conclude this agreement with Airwallex, which will enable us to provide additional services and options for our clients when it comes to international transfers.”