What is Yiji Pay? Yiji Pay Review

Chongqing Yijifu Technology Co., Ltd. ("Yijifu") was established in July 2011 with a registered capital of RMB 100 million and more than 500 employees. It is a professional payment company under the Born Group. As an Internet financial service institution, Yijifu is committed to lowering the threshold of financial services, improving the efficiency of financial services, and providing professional payment services and comprehensive Internet financial solutions for small and medium-sized enterprises.

About Yiji Pay

· In the five years since its establishment, Yiji Pay has served more than 1 million customers in Asia, North America, Europe and other regions. In 2015, the transaction flow of Yiji Pay platform reached 1.67 trillion yuan. With its outstanding innovation and 50 times growth rate in 3 years, Yiji Pay won the third place in China and the sixth place in Asia Pacific in the 2015 Deloitte High-Tech High-Growth Enterprise Selection.

·Easypay has created professional products and services such as B2B payment, collection and payment, cross-border payment, cross-border fund clearing and settlement, and international credit card acquiring for key areas such as B2B industry e-commerce, cross-border e-commerce, and consumer installment payment. It has the characteristics of large credit limit, multiple payment channels, fast fund clearing speed, true and accurate information restoration, and strong concurrent processing capabilities.

Yiji Pay provides an open API interface, through which partners can share Yiji Pay's powerful technical resources and create richer application scenarios for customers.

Safety and security

In December 2011, Yiji Pay obtained the Payment Business License issued by the People's Bank of China, becoming an Internet payment company that can conduct business nationwide. In 2013, it became one of the first pilot companies approved by the State Administration of Foreign Exchange for cross-border e-commerce foreign exchange payment business, and passed the VISA QSP and MasterCard PF qualification certifications. Yiji Pay has also obtained approval from the China Securities Regulatory Commission to provide fund payment and settlement services for fund sales.

It has established in-depth cooperation with many important domestic clearing institutions such as China UnionPay, City Commercial Bank Funds Clearing Center, Rural Credit Bank Funds Clearing Center, Shenzhen Financial Electronic Settlement Center, etc., providing 7×24 hours real-time and batch payment and settlement services, covering more than 400 banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, etc. Yiji Pay has established strategic cooperation with international card organizations such as Visa, MasterCard, JCB, American Express, and international financial institutions such as Cybersource and RED, providing safe and convenient international business for domestic and foreign customers.

Fees

The charging standards of the Yiji Pay official website (including personal and enterprise versions) are as follows:

·Recharge: no handling fee;

Withdrawal: When the withdrawal amount is less than 300 yuan (including 300 yuan), the fee is 1.5 yuan;

When the withdrawal amount is between RMB 300 (excluding RMB 300) and RMB 500 (including RMB 500), a fee of RMB 3 will be charged;

When the withdrawal amount is between 500 yuan (excluding 500 yuan) and 5,000 yuan (including 5,000 yuan), a fee of 5 yuan will be charged;

When the withdrawal amount is 5,000 yuan or more (excluding 5,000 yuan), a fee of 10 yuan will be charged.

*Note: This charging standard only applies to the personal and enterprise versions of Yiji Pay; the charges of other financial management, e-commerce and other platforms are based on the platform regulations.

Development History

-In July 2011, Chongqing Yijifu Technology Co., Ltd. was established.

-In December 2011, Yijipay obtained the Payment Business License issued by the People's Bank of China, becoming an Internet payment company that can conduct business nationwide.

-In 2013, it became one of the first pilot enterprises for cross-border e-commerce foreign exchange payment business approved by the State Administration of Foreign Exchange, and passed the VISA "QSP" and MasterCard PF certifications. Yiji Pay has also been approved by the China Securities Regulatory Commission to provide fund payment and settlement services for fund sales.

-Ranked third in China and sixth in Asia Pacific by Deloitte’s High-Tech Fast Companies in 2015.

-On December 20, 2016, the People's Bank of China announced the renewal results of the third batch of payment institutions, including 53 third-party payment institutions including Chongqing Yijifu Technology Co., Ltd. The renewal period of Yijifu's "Payment Business License" is five years, and the deadline is December 21, 2021.

-On May 30, 2017, Yijifu and its sister company, Yijiehui, appeared on the big screen of Nasdaq Square. Yijiehui launched Amazon's global payment business.