Method 1: Receiving Payments via Airwallex (Recommended Option)
Airwallex is a platform specifically designed to facilitate cross-border payments between Asia and the rest of the world. It is the most streamlined and efficient option for your client.
How does the process work?
Local Deposit: Your client logs into their Airwallex China account and deposits Chinese Yuan (CNY) via a local bank transfer.
Instant Conversion: Within their Airwallex dashboard, they can instantly convert their CNY into US Dollars (USD).
Sending the Payment: Your client selects the payment option and enters your Prismapay banking details (Account Number, Routing Number, and Bank Name: Lead Bank).
Successful Receipt: Airwallex processes the payment using the US domestic banking system (ACH or Fedwire). For Prismapay and Lead Bank, the transfer originates from an internal US-based account, ensuring a smooth settlement process.
Method 2: Receiving Payments via XTransfer (The Most Popular B2B Option in China)
If your client is a manufacturer, exporter, or trading company in China, they likely already use XTransfer—the leading B2B foreign trade payment platform in the country.
How does the process work?
Global Infrastructure: XTransfer provides Chinese companies with local collection accounts in various regions worldwide, including the United States.
Payment Instruction: Your client instructs XTransfer to settle your invoice.
Domestic Transfer: XTransfer utilizes its US banking network to send a domestic wire or ACH transfer directly to your Prismapay account at Lead Bank. ## Method 3: Receiving Payments via Crypto / Stablecoins (Digital Route) If your client prefers to move funds using digital assets, they can utilize local P2P platforms in China to send digital dollars (stablecoins) directly to a compatible gateway.
How does the process work?
Acquiring USDC: The client uses P2P platforms like Binance or OKX in China to purchase USDC using Chinese Yuan (CNY).
Withdrawal to an exchange: Instead of sending the cryptocurrency to a personal wallet, the client withdraws the USDC directly to an account on a U.S.-regulated exchange that you control (e.g., Coinbase).
Settlement to Prismapay: You sell the USDC for U.S. dollars (USD) on the exchange and initiate a domestic ACH transfer from the exchange to your Prismapay account and routing number at Lead Bank.
Simplify your international collections with Prismapay
Connecting your business to the Chinese market doesn’t have to be complex. By offering your customers the option that best fits their daily operations, you ensure that your incoming payments reach your Prismapay account quickly, securely, and cost-effectively. Do you have questions about how to set up your Lead Bank account details to receive payments? Get in touch with our support team at Prismapay.net, and we will guide you step by step.