OnerWay facilitates a payment collection platform that enables Chinese merchants to sell their products on local marketplaces around the world. The partnership with ONPEX opens the European market for OnerWay’s clients to expand their business. In addition, it helps in supplying the Chinese payment service provider (PSP) with a solution that ensures multi-currency management and reduces cross-border transfer costs.
With ONPEX, OnerWay can receive, split, reconcile, and settle payments to its clients’ corresponding accounts in China. Deploying ONPEX’ Banking-as-a-Service via API technology, OnerWay is able to assign unique IBANs to each customer.
OnerWay can deliver automated marketplace settlements, guaranteeing payments in over 25 currencies. Further, ONPEX allows the PSP to operate in a PSD2 compliant environment, regulated by the Luxembourg CSSF in accordance with European law.
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