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WorldFirst Boosts Southeast Asia SMEs with Expanded E-commerce Digital Finance Solutions in 2023-2024.
Empowering Southeast Asian SMEs to Connect and Thrive in Global E-Marketplaces through Secure, Fast, and Reliable Cross-Border Payment and Financial Services.
WorldFirst’s Singapore-Based SME Clients Showcase Remarkable 70% Surge in Monthly GMV from January to October 2023.
Singapore, November 14, 2023 – WorldFirst, a leading digital payment and financial services platform, has unveiled ambitious plans to introduce its cutting-edge e-commerce digital finance solutions to new Southeast Asian markets in 2023-2024. This move aims to empower small and medium-sized enterprises (SMEs) in the region, enabling them to thrive in the global e-marketplace with secure, fast, and reliable cross-border payment and financial services.
Expanding Global Footprint
Building on its successful track record in China, Singapore, and various other markets, WorldFirst will roll out its suite of solutions through World Account, extending its services to Vietnam, Thailand, the Philippines, and Malaysia. The goal is to facilitate seamless global selling, management, and growth for SMEs in these dynamic markets.
Key Solutions for SME Success
Selling: SMEs can open a multi-currency World Account within minutes, allowing them to trade like locals globally. World Account supports 42 currencies to over 200 global markets and facilitates global sourcing by enabling local collection in 30 currencies from more than 120 e-marketplaces.
Management: World Account offers a user-friendly portal for sellers to efficiently manage their operations across countries and marketplaces. It allows for tiered store and entity management, with customized account statements for easy reconciliation.
Growth: Through its Global Voyage program, WorldFirst provides hassle-free one-stop store opening services across global marketplaces, reducing setup time to within 24 hours. Additionally, SMEs can access a range of value-added professional services, from online advertising to logistics, further boosting their growth potential.
Clara Shi, CEO of WorldFirst and Vice President of Ant Group, expressed confidence in the company’s ability to help small businesses in Southeast Asia extend their international footprint. She highlighted the secure and fast cross-border payment and e-commerce enablement services as key factors that can empower SMEs to thrive in the global marketplace.
“Building on our global fintech capabilities and strong success in China, Singapore and other markets, we are confident our secure and fast cross-border payment and e-commerce enablement services can help small businesses in Southeast Asia extend their international footprint,” Clara Shi, CEO of WorldFirst and Vice President of Ant Group.
Commitment to Security and Fraud Prevention
WorldFirst places the safety and security of client transactions as its top priority, boasting a leading fraud prevention track record in the industry. The company partners with globally systemically important banks and financial institutions to safeguard client funds.
Driving E-commerce Growth
A report by the EU-ASEAN Business Council identifies the adoption of cross-border digital payment systems as a key catalyst for e-commerce growth. In Singapore, SME clients of WorldFirst experienced a remarkable 70% increase in their monthly Gross Merchandise Value (GMV) between October 2023 and January 2024.
WorldFirst, a pioneer in meeting the needs of SMEs engaged in international trade, provides comprehensive solutions for global collection, making payments, currency conversion, risk management, and supply chain financing. With a focus on reducing costs and improving turnover efficiency, WorldFirst employs cutting-edge technologies, including AI, for risk control. The company, connected to over 120 marketplaces, has served one million customers worldwide since its founding in 2004 and joined Ant Group in 2019.