杭州全球跨境支付机构发布“开放银行”全球实践方案，共享全球本地化支付网络

This article reports that Hangzhou-based cross-border payment provider PingPong has launched a global open banking practice solution for domestic Chinese banks, centered on opening its own resources to advance cross-border finance development. Key takeaways are as follows:

1. The core goal of the solution is to open up PingPong's end-to-end global collection, payment and currency exchange capabilities, as well as its integrated ecosystem, to help banks build high-quality cross-border financial services and ultimately support the global expansion of Chinese brands.

2. On cooperation progress: PingPong has already reached落地合作 with nearly 20 domestic Chinese banks including Bank of China, Bank of Communications and MYbank. Bank of Communications has co-launched the "Silk Road E-commerce" cross-border financial platform, while China Guangfa Bank has upgraded its cross-border e-commerce service products.

3. Industry context: China's cross-border e-commerce has grown rapidly in recent years, with total import and export volume reaching 2.38 trillion yuan in 2023, up 15.6% year-on-year — far outpacing the growth rate of China's overall foreign trade. Accelerated global expansion by multiple Chinese brands and cross-border platforms has created strong demand for related supporting services.

This article outlines key industry trends and new financial support for Chinese brands expanding globally. Key takeaways are as follows:

1. Consumer and industry trends: Cross-border e-commerce has become the core growth driver of China's foreign trade, with its share of total goods trade rising from 1% in 2015 to 5.7% today. Multiple leading cross-border platforms have raised their global growth targets, and the overall scale of Chinese brands going global has expanded exponentially, making outbound expansion a clear growth trend.

2. Solutions for outbound expansion pain points: PingPong's new open banking solution directly addresses common pain points for brands expanding overseas, including multi-region, multi-currency transactions, payments and collections across different use cases, foreign exchange risk, global payroll distribution, and supply chain cash management.

3. Service advantages: Built on PingPong's self-developed localized payment network covering more than 100 countries and regions and connected to hundreds of leading global financial institutions, the solution enables banks to provide brands with integrated global cash management services to support their global expansion.

This article summarizes industry growth opportunities and new supporting services for cross-border sellers. Key takeaways are as follows:

1. Industry growth opportunities: Cross-border e-commerce is currently the core growth driver of China's foreign trade, with a growth rate far exceeding the national average for overall foreign trade. In 2024, multiple leading cross-border platforms have significantly raised their global transaction growth targets, creating large market space and sufficient overall growth momentum.

2. New option for capital services: PingPong's open banking solution, launched in partnership with nearly 20 domestic Chinese banks, meets sellers' core needs including cross-border collection, unified capital aggregation, currency exchange and supplier payments, while also hedging foreign exchange risk for non-mainstream currencies. It covers more use cases and regions than traditional services.

3. Accessible resource support: PingPong's ecosystem already connects to more than 200 domestic and international new economy platforms. Through partner banks, sellers can access richer channel resources, reduce onboarding costs for outbound expansion, and more easily expand into global markets.

This article sorts out industry trends and outbound opportunities for factories with foreign trade布局. Key takeaways are as follows:

1. Industry development trends: Foreign trade is clearly shifting toward online and digital operations, with cross-border e-commerce growing rapidly and a booming trend of Chinese brands going global. Both factories handling OEM orders and those building their own brands for overseas markets now have access to much larger market space.

2. Outbound business opportunities: The open banking solution co-launched by PingPong and nearly 20 domestic Chinese banks solves global cash management pain points for factories expanding overseas. It covers multiple scenarios including general trade, cross-border e-commerce, and own-brand outbound expansion, helping factories lower capital-related barriers to entry and connect more smoothly to global markets.

3. Insights for digital transformation: Digitalization is accelerating the restructuring of the foreign trade industrial structure. When expanding outbound, factories can leverage the open cooperation ecosystem between payment providers and banks to meet their cross-border financial service needs, complete the digital布局 of outbound business faster, and reduce operational risks.

This article outlines industry trends and core demand pain points for cross-border service providers. Key takeaways are as follows:

1. Industry development trends: The digital and online transformation of foreign trade is accelerating, cross-border e-commerce is growing rapidly, and demand from Chinese brands to expand globally is strong. Banks are generally seeking to build cross-border digital open ecosystems and improve integrated domestic and international cross-border financial services, creating broad market space.

2. Core customer pain points: On one hand, outbound-facing enterprises generally face a range of pain points including multi-region multi-currency transactions, foreign exchange risk, payments across scenarios, global supply chain cash management and global payroll distribution. On the other hand, banks lack a localized global payment network and full-scenario service capacity, making it impossible to meet the needs of outbound clients on their own.

3. Referenceable solution: PingPong's open banking model offers a clear solution path. Payment providers open their accumulated global payment networks and ecosystem resources, and can deliver a full-stack cross-border capital solution to banks through a single API. This open cooperation model, where both parties work together to serve outbound clients, offers valuable reference for peer service providers.

This article sorts out market demand and cooperation directions for cross-border platform operators. Key takeaways are as follows:

1. Current market demand: Against the backdrop of digital restructuring of foreign trade, cross-border platforms need more complete cross-border financial supporting services to meet the cash management needs of sellers and brands on their platforms, and improve their own competitiveness and appeal.

2. New cooperation directions: PingPong already connects to more than 150 overseas new economy platforms and more than 50 domestic new economy platforms, and has reached open banking cooperation with nearly 20 domestic Chinese banks. It can provide mature cross-border payment and collection, and global cash management supporting services for all types of cross-border platforms. Platforms can access these resources to improve their own service capabilities.

3. Trend indication: With cross-border e-commerce growing rapidly and the boom of brand outbound expansion continuing, stepped-up global布局 has become a mainstream trend for platforms. Improving financial service supporting capacity is one of the core competitiveness factors to attract merchants to onboard, and open cooperation with payment providers and banks aligns with industry development direction, helping platforms scale faster.

This article presents new industrial trends and innovative business models in the cross-border financial sector. Key takeaways are as follows:

1. New industrial trends: China's foreign trade is currently in a period of accelerated digital transformation. Cross-border e-commerce has become the core growth driver of foreign trade, and Chinese brands going global have entered a phase of rapid growth, generating a large amount of new demand for cross-border financial services. Open sharing has become a new development trend in the cross-border financial sector.

2. Innovative business model: The "open banking" global practice solution launched by PingPong creates an innovative business model of open cooperation between payment providers and banks: payment providers contribute their global payment networks, scenario service capabilities and ecosystem resources, while banks contribute financial licenses and client-side resources. The two parties complement each other's advantages to jointly serve outbound clients, solving the problem of insufficient service coverage from a single institution.

3. New research questions: How this new cross-institutional open cooperation model can adapt to the differentiated needs of different sizes and types of outbound entities, how to manage various risks in cooperation, and how to further improve service efficiency, are all new issues emerging in industrial development that carry high research value.