WorldFirst & Walmart to offer secure payments to Chinese eCommerce sellers

By Gloria Mathias

WorldFirst, a one-stop digital payment and financial services platform for global businesses, has joined hands with Walmart to enable China-based eCommerce sellers to securely collect funds from Walmart Marketplace, accelerating global growth opportunities.

Leveraging WorldFirst’s expertise in secure cross-border payments, the new digital payment collection service will provide online sellers with three key benefits:

• Security and Compliance: Funds collected are directly deposited into the merchant’s World Account, providing businesses with streamlined access to cross-border payment and financial services to support their global expansion efforts.
• Low Cost: Merchants benefit from no service charges and complete protection against exchange rate losses on collected payments. Additionally, fees for withdrawals and transfers are limited to a cap of 0.3%.
• Rapid Store Opening: Through WorldFirst’s Global Voyage Program, merchants can enjoy a fast setup with no monthly fees. Store setup can be completed in as little as one day.

WorldFirst helps businesses drive global growth by offering international payment services across 40 currencies on over 120 global online marketplaces.

This partnership with Walmart further strengthens WorldFirst’s international digital trade ecosystem, which includes marketplaces, logistics, customs brokers, and other trade service providers. This ecosystem broadens businesses’ access to essential resources needed to succeed in overseas markets.

Recently, WorldFirst launched a function to enable real-time payment between holders of its multicurrency business account, World Account. This function will benefit British and European SMEs that import from international markets. This capability allows these businesses to promptly pay their overseas suppliers free of charge, ensuring timely receipt of goods and cost savings to support their business growth.

Essentially, SMEs in the UK and the European Union that source from China will pay a wide range of suppliers who are also World Account users within seconds.

WorldFirst has also expanded its one-business-day settlement capability to cover 90% of all World Account transactions, providing SMEs worldwide with speedy payments to increase turnover and save on costs.