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(iPayLinks 6th Anniversary) Zhen Guogang: Payment is Connection


“Big things have small beginnings.”——Prometheus

Payment is the connection. The era of a vigorous digital economy is on the way, said Yan Guogang, CEO of iPayLinks. Everyone is a part of the digital economy, carrying wealth, and payments can connect each individual.

With the vision of Links in mind, the company was officially named iPayLinks, established in Shanghai Lujiazui Financial District on January 14, 2015. This month, iPayLinks celebrates its sixth anniversary.

In the 21st century, China has become one of the worlds largest trading nations, with the best infrastructure and supply chain in the world. Nearly one billion people are experiencing consumption upgrading and accelerating integration into the process of globalization. In terms of cross-border ecommerce alone, Chinese sellers account for more than 50 per cent of the worlds major shopping platforms. There is no Chinese player in cross-border payments.

In other words, while Chinas market and consumers are connected to the world, Chinas cross-border payments business is far behind. Zhen and his founding team believe there should be strong choice on the demand side. Instead of only providing the same standardized products and cold rules and terms of service, digital finance should be based on the real needs of different types of users, can be tailored, temperature, can be urgent to the users urgent services.

Starting from cross-border collection business, the fledging IPayLinks has tailored one-stop collection solutions for many Chinese overseas giants, such as Ctrip, Qunar, Tong Travel, eHi Car Rentals and Shenzhen Airlines. Starting in 2018, they began offering merchant settlement products, a cross-border settlement solution for Chinese sellers on the mainstream Marketplace.

At the beginning of 2020, iPayLinks launched a global unified account system, providing digital cross-border payment solutions for cross-border enterprises, supporting cross-border payment, remittance and global remittance under multiple scenarios. It also launched customized solutions for vertical industries such as retail e-commerce and digital entertainment, which were well received by cross-border enterprises. Currently, iPayLinks has more than 100,000 users on the web.

The greatest danger in turbulent times is not turbulence, but the continuation of the logic of the past. - Drucker

For cross-border payment services, the breadth and depth of connection directly determine the value it brings to customers. On this road, iPayLinks has endured hardships and walked out of a road of its own. The standard for cross-border payment enterprises in China is quite strict. The past has been very difficult, and the future will not be paved with flowers all the way. The localization compliance standard is getting more and more rigorous; the laws and regulations of different countries are greatly different; the protection policies of some countries or regions are still serious and show signs of rapid rise, and there are many uncertain factors in the global market......

Faced with such an uncertain environment, Zhen says: We have been involved in the market for six years, and the word environmental determination has never appeared in our dictionary. But the original intention and genes of Links remain the same. We are constantly updating our iterative thinking and products, and each product upgrade is a response to uncertainty and a step towards a true cross-border payment ecosystem. Economic globalization may have a brief relapse, but the overall trend of accelerating will not change. A mature cross-border financial ecosystem needs to help enterprises form new business models in addition to seizing the market to improve efficiency and manage risks.

Not only will we continue our efforts to expand connectivity, but we will also continue to improve our ability to provide comprehensive solutions for cross-border businesses to solve cross-border payment challenges beyond simply providing a channel service. These are very challenging indeed. But the cautious are often right, and the challengers often succeed.

Insist what you want. It is the noble mission of iPayLinks to continue to expand the breadth and depth of connectivity and create unrivaled value for our customers in cross-border payments.