RMB Cross-border Payment Solutions for Goods and Services
(A)Five different types of cross-border transactions:
● OUTBOUND payments (Mainland to International):
○ B2B (Outbound) - Mainland B --> International B
○ Active C2B (Outbound) - Mainland C actively pays International B
○ Passive C2B (Outbound) - International B collects from Mainland C
● INBOUND payments (International to Mainland):
○ B2B (Inbound) - International B --> Mainland B
○ B2C (Inbound) - International B pays Mainland C
For all outbound payments involving a Mainland customer (Active C2B and Passive C2B
outbound), these transactions involve 2 parts:
(1) Amount deductible from Mainland bank account ("Payment limit"); and,
(2) Amount allowed to be cross-bordered for settlement ("Cross-border limit").
● For DNA mobile payment, (1) amount is smaller than (2) amount, resulting in
smaller cross-border payment amount, despite higher cross-border limit.
● For Internet & E-payment/debit payment, (1) amount can be larger than (2)
amount, resulting in more money deducted from bank account than is permitted
to cross-border, increasing the general settlement span (partial settlements
each day until entire transaction is settled).
In addition, for all payment solutions after deducting (1) merchants need to access the
backend platform to export a cross-border declaration file, detailing the transactions that
the merchants would like to declare to PBOC to cross-border. This declaration needs to be
company-stamped and emailed to Axepay to submit to PBOC on the merchant's behalf.