text | Pan Xiaoyu
editor | Peng Xiaoqiu
Since the epidemic, the cross-border track in full swing has gradually been exposed to public view, but there is one subdivided track that is often ignored by people, which is cross-border payment. But in fact, for cross-border sellers, cross-border payment is an unavoidable part.
As the most critical part of the transaction process, cross-border payments also face various complex risk issues. These include the seller's sales qualifications and infringement issues. If related risks are involved, the seller may face the risk of fund freezing. In addition, sellers will also face financial risks if they encounter problems such as consumer refusal to pay and fraudulent consumption.
Based on this background, "Asiabill", founded in 2015, is committed to providing collection services for independent website sellers and helping sellers control the risks of foreign card acquiring. At present, Asiabill has simultaneously accessed more than 240 overseas local payment methods around the world, covering Southeast Asia, Latin America, Europe, and Russia. Supports global mainstream credit card collection, including Visa, MasterCard, American Express, JCB, etc.
At the same time, Asiabill already holds the Hong Kong Money Service Operator License (MSO), the United States Money Service License (MSB), and has MasterCard PF, American Express merchant integrator and other qualifications.
Asiabill
Asiabill co-founder Feng Yuan told 36氪 that Asiabill’s core business mainly includes two parts:
One is the basic business, which can provide a payment port for independent website sellers to facilitate independent website sellers to acquire international credit cards, as well as overseas local Payment Collection.
The second aspect is risk control, which mainly includes compliance risks and risk control risks. Among them, compliance risks refer to sellers selling some imitation brands, involving trademark infringement or patent infringement; and the products sold lack corresponding qualifications. For example, in some countries, selling fascia gun requires FDA certification , etc. In response to this type of problem, Asiabill has established a compliance team to help sellers jointly control compliance risks and prevent sellers from selling infringing products due to lack of relevant compliance knowledge.
Risk control risks mainly refer to consumer chargebacks, including fraud chargebacks and service chargebacks. Among them, fraudulent chargebacks require a professional payment team to provide various risk control tools to help sellers control risks. Service chargebacks are mainly due to sellers' inability to meet consumer demands, such as long logistics times, incorrect goods, etc. In response to this problem, Asiabill will guide sellers to pay attention to quality control and supply chain control, and inform them of possible risks in advance.
It is worth mentioning that in terms of risk control, Asiabill has also independently developed a big data risk filtering system and risk control systems including an AI fraud detection system.
According to Feng Yuan, the big data risk filtering system refers to the introduction and continuous updating of blacklists and fraud databases of major card organizations and risk control agencies, and the establishment of a big data risk analysis model in conjunction with its own risk control data. The AI fraud detection system can obtain user device-fingerprinting and other information in real time, build user portraits based on user behavior patterns, identify risky transactions, and trigger risk control protection.
"After optimization in recent years, we no longer rely entirely on external risk control tools, but instead rely on self-developed risk control systems as the mainstay, supplemented by external risk control tools. The advantages of this are to reduce costs, improve efficiency, and reduce transaction time inconveniences. Necessary multi-party information exchange,” Feng Yuan said.
At the same time, big data system analysis can help sellers choose payment methods that are more in line with local payment habits. For example, in some places in Europe, people prefer traditional payment methods, and sellers will be recommended to rank credit card payment first; for some virtual game equipment categories, sellers will be recommended to rank local payment first. Improve payment conversion rate.
is based on two major systems. Asiabill can also provide corresponding customer services, such as regularly guiding sellers to carry out customer service and customer care to maintain relationships with overseas consumers.
Currently, Asiabill has cooperated with Shopify, SHOPLAZZA, Shopline, Xshoppy and other website building tools. After sellers use this type of website building tool, they can directly choose to connect to Asiabill's payment port.For sellers who do not use website building tools, Asiabill can also match the technical end.
According to Feng Yuan, domestic cross-border payment companies are mainly divided into three categories. One is foreign exchange settlement companies, which are subject to license restrictions; the other is collection companies, which have lower thresholds and have achieved scale effects. ;The other type is the acquiring company, and Asiabill belongs to the acquiring company. "Relatively speaking, the threshold for to acquire companies is relatively high. This is an industry with high customer stickiness and relies heavily on customer trust. Only when customers trust you can they put their money with you; your reputation is good , Only then can we negotiate with upstream credit card organizations.”
In Feng Yuan’s view, the core competitiveness in cross-border payments, especially in the field of acquiring, must continue to move upstream. In the payment field, the wider the scope of control, the stronger the moat. "Under the same conditions, both controlling risks and improving payment success rate will give you a more competitive advantage."
In terms of team, Asiabill's risk control team has more than 10 years of industry experience and is rich in experience. Co-founder Feng Yuan has served as a senior executive of Lenovo, Kingdee, Yidian, and other companies. He has been deeply involved in the corporate service industry for 22 years. He has rich experience in corporate management, consulting and training, and e-commerce practice. He is good at providing cross-border payment solutions for overseas companies.
