What is Passfeed? Passfeed Review

Basic Introduction

Passfeed has already established a solid user base in the overseas social market, with 60 million loyal users and over 1 million daily page views. With a new e-commerce concept, it aims to build an American e-commerce + Internet credit life system.

It has reached strategic cooperation with top global financial institutions and retailers including VISA, Masda, Amazon, Goldman Sachs, Morgan, etc. In addition, Passfeed's thriving growth in Hong Kong means that the platform diversification has taken shape.

Hot-selling categories on the platform

Fashion clothing;

Office and stationery supplies;

Life accessories;

Electronic accessories;

Car accessories.

Category Commission

Passfeed Financial Products

Passfeed is the only e-commerce platform in the United States that can provide consumers with one-stop financial services and provide merchants with more convenient and high-quality financial products.

1. Paylater

Paylater is a consumer credit product of Passfeed. After applying, users can obtain a consumption limit of up to $5,000. Users can use this limit to purchase platform products and enjoy the experience of "consume first, pay later". It is interest-free for a long time, and high-quality users can use credit card limits to repay and enjoy an interest-free period of up to two months. Paylater credit rating is connected to the US FICO credit rating system through Microbilt and has strict risk control standards.

2. Open a US bank account on behalf of others

Passfeed provides the service of opening US bank accounts for merchants. Based in the United States, it provides bank accounts such as CITIBANK and CapitalONE, which are convenient for receiving payments and have very low fees.

Advantages:

Extremely fast withdrawal, the fastest T+0 cycle withdrawal;

Zero exchange loss, original currency is recorded and cash is withdrawn at the quoted exchange rate;

Convenient payment collection, unified management of multiple currencies and multiple accounts;

Dedicated customer service, one-stop KYC service.

3. Open a co-branded card (including physical card and virtual card)

Passfeed is based in the United States and provides co-branded cards for merchants or consumers on independent websites, including physical cards and virtual cards. We provide professional technical docking to quickly meet user needs.

Advantages:

No card production cost;

Fast card issuance;

Wide range of usage scenarios;

Merchants do not need to bear any risk;

Customized exclusive benefits.

4. Supply chain financial service products

Prepayment of the amount that has not been received by Passfeed;

Once the goods are stored in a warehouse operated by Passfeed, the financial institution can assess the value of the goods and release cash flow to the merchants. During this period, the merchants can trade the goods normally by paying a certain amount of interest.

Platform Advantages

1. Solid user base

Passfeed already has 60 million social registered users waiting to be converted, with over 1 million daily views.

2. Boutique Mall

There are over 1 million products on the Passfeed platform, including fashion, home goods and electronics, as well as a variety of other financial instruments such as gift cards, wallet funds, rewards cards and more.

3. Virtual debit cards stimulate consumption growth

Passfeed is backed by Bank of America and allows users to top up funds and use virtual debit cards on the platform for online or offline shopping, similar to the domestic "Ant Huabei". The order success conversion rate is 20% higher.

4. Social sharing users are highly motivated

Passfeed encourages consumers to interact with others and stimulate consumption by sharing flash sales and daily deals while earning points and rewards.

Entry requirements

1. Copies of business registration certificate, registration certificate and business license;

2. Passport or ID card of the legal person;

3. KYC Form for merchant registration;

4. Have experience in cross-border e-commerce (provide links to operating cross-border platform stores).

Logistics requirements (Updated: 2019-10-08)

1. Delivery within three days;

2. There are currently no special requirements for delivery time.

The platform’s official logistics partner is 4PX Express. Sellers can choose the corresponding logistics service based on their product needs.

For specific logistics solutions, please consult your nearest 4PX logistics expert.

Payment time

Payments to suppliers are settled twice a month.

Development History

Passfeed was listed in mid-2013 and has been developing rapidly. In just a few years, it has become the fourth largest payment platform in the world, with tens of millions of users.

In 2015, it transformed into an OTA model and established a network layout centered on food, drink, entertainment and fun in London, Bangkok, New York and Hong Kong, with tens of thousands of merchants settled in, including Starbucks, Costa, Pizza Hut, PizzaExpress, AMC, VUE, Odeon, Walmart, Target, Macys, Tesco, M&S, John Lewis, Amazon, iTunes, Google Play, Steam, Nike, Zara, H&M and more than 70% of the top merchants in Europe and the United States.

In 2018, Passfeed kept up with the pace of the Internet and successfully transformed into an overseas local e-commerce platform with its huge user base and traffic, providing merchants with one-stop services. From settlement to payment, Passfeed gives you the best service experience.

References