WorldFirst commits to supporting small businesses in China with launch of local brand name
WorldFirst launches new localised brand name 万里汇 WorldFirst (wan-li-way) in China – which translates into English as “transfers, even miles away” – in support of mission to make it easier, cheaper and faster to move and manage money around the world
New brand name follows the launch of the World Account in China, a multi-currency platform which helps businesses make and receive payments in local currencies and at great FX rates
WorldFirst will support growth plans with up to 40 new hires and a new office in Shanghai
WorldFirst, the international payments company, today announced the launch of its new localised brand name in China: 万里汇WorldFirst.
The name translates into English as “transfers, even miles away” and was decided upon after several rounds of testing with both customers and staff in China. The new name will help WorldFirst to cement its position as the clear choice for Chinese businesses trading around the world.
The new name is part of a wider strategy in China and follows the recent launch of the World Account in the region – a multi-currency platform that enables businesses to manage their finances across multiple currencies and send and receive cross-border transfers at great exchange rates.
WorldFirst has been supporting businesses in China since 2008, and transferred more than $4.5bn back into China in 2017 alone.
To support the future growth of China’s small business population and the Chinese government’s Belt and Road Initiative, WorldFirst will continue to invest in its presence and proposition in China. WorldFirst expects to add around 40 new hires to its 40-person strong team in China and open new offices in Shanghai, Zhengzhou and Jinan.
Jeff Parker, Managing Director APAC at WorldFirst, commented: “The launch of the 万里汇WorldFirst name is an important milestone for our business and a really strong demonstration of our commitment to China. We’ve already helped more than 50,000 customers in China and we’re excited at the prospect of helping many, many more. Our mission now is to go further to help not just businesses in China but businesses around the world who want to do business with China.
“We’re confident the name will resonate strongly with our Chinese customers, whilst also providing a clearer indication of the services we provide. This is a really exciting time for us and we’re proud to be playing a key part in supporting growing trade between east and west.”
According to the Chinese E-commerce Research Centre, more than 43 million small businesses and sole traders in China are now able to access international markets. It estimates that the value of cross-border e-commerce retail and B2B transactions to be RMB 7.6 trillion.