1) Third-party cross-border payment and settlement services will gradually get rid of the single channel model
After the development in recent years, especially after the State Administration of Foreign Exchange and the People’s Bank of China issued licenses, third-party cross-border payment is gradually opening up market channels, from a single basic channel service to gradually meeting more needs in the cross-border trade platform. Some manufacturers have begun to cooperate with service agencies in the cross-border industry chain, from export tax rebates to the three-in-one customs declaration, to cross-border warehousing and logistics solutions, striving to solve the common problems existing in cross-border trade.
2) The industry standardization is accelerating, and the third-party cross-border payment and settlement industry has great development potential
(1) Platform layer. After years of development, cross-border e-commerce platforms have gradually moved towards formalization, and the scale of transactions has continued to expand. While cultivating a stable consumer group, the platform operation has become more mature.
(2) Policy layer. The regulatory authorities have continuously conducted research on domestic cross-border trade. Among them, for the most critical payment and logistics, more detailed and reasonable support policies may be intensively introduced, and the industry standardization will continue to accelerate.
(3) Consumer layer. Driven by consumption upgrades, domestic consumers’ demand for cross-border goods is increasing, and the scale of overseas shopping, cross-border tourism/shopping, and the number of students studying abroad have reached new highs.
(4) Institutional level. After the initial market cultivation stage, third-party payment institutions are gradually getting rid of the industry price war stage of being only a payment channel. Each company has begun to create exclusive industry solutions and conduct differentiated operations on the basis of gradually gaining more customers.
3) Small-value B2B cross-border payment and settlement may become the next industry “blue ocean”
Due to the large backlog of funds and high risk control pressure, traditional container cross-border trade is being replaced by convenient and timely cross-border e-commerce small-value wholesale and retail business with online transactions as the core. Third-party payment is based on big data and cloud computing, and is more suitable for the small-value, fast and flexible payment mode and risk control requirements of small-value B2B trade.
4) Traditional cross-border payment and settlement methods and cross-border e-commerce payment and settlement methods complement each other
The market dominance of traditional international trade B2B will not change for the time being. Similarly, traditional cross-border payment and settlement methods will still occupy an important position in the market. The emergence of new cross-border e-commerce models and platforms will prompt the reform of traditional cross-border e-commerce payment and settlement methods. In the market, traditional cross-border payment and settlement methods and cross-border e-commerce payment and settlement methods will coexist in a complementary manner for a long time.