• Product Reviews
• 19.05.2021 05:41 pm

• What does the product do?

SUNRATE is an Asia-based digital payment platform created to empower cross-border business. Building a commercial settlement gateway, SUNRATE opens up international trade by digitalising payment processes, offering transparent, competitive exchange rates and moving money securely around the world. 

• Who needs the product?

SUNRATE is dedicated to helping cross-border trade business (incl. e-commerce, traditional B2B trade, service trades such as OTAs, etc.) across Asia, addressing their cross-border payment and collection needs in a fast, safe and cost-effective way.

• What is special about the product?

Witnessing first-hand the difficulty and frustration faced by SMEs when making payments abroad, SUNRATE was founded to change this. By building a commercial settlement gateway which aggregates different clearing networks, SUNRATE is transforming the way international payments and made and making cross-border transactions fast, safe and cost-effective.

• What features are relevant?

• Comprehensive Product Suites - SUNRATE has built comprehensive products suites including International Payments, Global Collection, Corporate Cards, etc. Through direct connections to global banks and local clearing networks, SUNRATE speeds up cross-border payments and get competitive rates. With automated APIs and modularized products, SUNRATE offers flexible services to every sector where clients can pick and choose the modules they need to assemble the support that’s right for them. 

• Innovative Technology - Having a team of industry-leading tech experts, SUNRATE’s built a proprietary tech engine which simplifies transactions and gives you access to extensive networks covering 130+ countries and regions, ensuring transparent, real-time, competitive exchange rates. 

• Bank Level Compliance and Security System - SUNRATE's systems are strictly vetted for compliance and security by high-level banking partners and third-party auditors. SUNRATE vigilantly monitors their data, infrastructure and transaction security to protect clients from any kind of fraud.

• Who is the competition?

Our competition spans across various areas within finance and technology. These include Wise (formerly TransferWise), and Nium.

• What are some real case examples?

Hui e Da - a one-stop digital cross-border payment solution

When COVID-19 emerged, there was more pressure than ever on cross-border trade. With exchange rates volatile, slowed overseas payment and complicated offline procedures global trading businesses were facing great financial pressures. In light of this, there is an unmet market need to find the best possible solutions to solve these unprecedented cross-border payment issues.

SUNRATE partnered with Standard Chartered Bank (China) Limited (hereinafter referred to as "SCB") to launch a one-stop digital payment solution. By simplifying transactions and offering real-time transparent rates, SUNRATE sought to help clients save payment costs and improve efficiency. Building a digital payment platform based on the financial technology which integrates with SCB's financial network, SUNRATE allowed companies to enjoy a seamless, transparent, one-stop service. Combining SUNRATE’s technical strength and SCB's financial network, global trading companies were able to reduce costs and increase efficiency in cross-border payments.

Together SUNRATE and SCB helped hundreds of B2B trading enterprises to simplify transactions, lower costs, get transparent rates and value-added services which has since resulted in SCB saving up to 75% of their payment costs.

To find out more about SUNRATE, visit https://www.sunrate.com/