WorldFirst, a comprehensive digital payment and financial services platform catering to cross-border trade SMEs, has unveiled plans to launch e-commerce digital finance solutions in new Southeast Asian markets during 2023 and 2024.
This strategic move aims to empower online sellers with secure, fast, and reliable cross-border payment and financial services while offering a seamless connection to multiple global marketplaces.
Building on its successful presence in China, Singapore, and other key markets, WorldFirst will introduce its suite of solutions, facilitated through the World Account, to countries including Vietnam, Thailand, the Philippines, and Malaysia. The initiative seeks to facilitate global selling, streamline management, and foster growth for SMEs in these regions.
Key Features for SMEs:
- Selling: SMEs can swiftly open a multi-currency World Account, enabling them to trade globally with ease. The World Account supports 42 currencies and access to over 200 global markets, facilitating global sourcing. Additionally, it allows local collection in 30 currencies from more than 120 e-marketplaces, backed by WorldFirst’s access to 40 local fast payment schemes worldwide.
- Management: World Account provides a user-friendly portal for SMEs to manage multiple stores across different e-marketplaces and entities. Sellers can tier stores, e-marketplaces, and entities, while customizing account statements for reconciliation during the crucial scaling-up stage.
- Growth: Leveraging its Global Voyage program launched in 2022, WorldFirst offers a one-stop store opening service across global marketplaces. The streamlined process, supported by partnerships with 28 e-commerce platforms, enables sellers to set up shop within 24 hours. Additionally, WorldFirst provides a range of value-added professional services, from online advertising to logistics, contributing to SMEs’ overall growth.
Clara Shi, CEO of WorldFirst and vice president of Ant Group, expressed confidence in the platform’s ability to assist small businesses in Southeast Asia in extending their international reach.
WorldFirst emphasizes the safety and security of client transactions, boasting a leading fraud prevention track record in the industry through partnerships with globally systemically important banks.
The adoption of cross-border digital payment systems is recognized as a key driver for e-commerce growth, providing small businesses easier access to new regional and global markets, according to a report by the EU-ASEAN Business Council.
In Singapore, SME clients of WorldFirst witnessed a substantial 70% increase in their monthly Gross Merchandise Value (GMV) between October and January 2023.
For more information about WorldFirst, visit www.worldfirst.com
