WORLDFIRST
27.3.2024 07:41:27 CET | Business Wire | Press release
WorldFirst, a one-stop digital payment and financial services platform for global businesses, especially SMEs in international trade, has launched an e-commerce growth solution to help UK SMEs trade globally. Through the solution accessible via the World Account, SMEs need just one account which has a simple set-up process to start cross-border e-commerce trade.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240326208316/en/
Bruce Ding, General Manager of WorldFirst International Business, shares global e-commerce opportunities for UK SMEs at a WorldFirst partner conference in London, March 2024. (Photo: Business Wire)
The World Account brings down the costs associated with making an international transfer for SMEs. Typically these costs which span compliance, FX and payment operations account for 2-3% of the value of a transfer, but with the World Account this is reduced to less than 0.75%, according to WorldFirst industry analysis. This helps SMEs boost their margins to sustain long-term business growth.
Untapped Opportunity in Cross-border E-commerce
Global trade is expected to grow by 3.3% this year and retail e-commerce sales are expected to grow 8.8% over the same period. However, in the UK, the Office for National Statistics’ most recent Annual Business Survey of Exporters and Importers revealed that just over 1 in every 10 UK businesses (11.4%) are involved in exporting; a number that had only risen by 0.7% in the preceding three years. When polled by a UK bank, 80% of businesses agreed that exporting is critical to their business’ future.
Bruce Ding, General Manager of WorldFirst International Business, notes: “Against this backdrop, there’s an excellent opportunity for many more UK SMEs to tap into the opportunities of international trade. Despite the complexities involved in cross-border e-commerce, with the support of external partners like us, we’re seeing SMEs are increasingly optimistic about the opportunities presented by exporting overseas.”
In 2022, the total cross-border e-commerce market in Europe, including the United Kingdom, amounted to a turnover of €265 billion (excluding travel). Of this total, €167 billion, or 63%, was generated by marketplaces. However, European countries are falling behind compared to those across South America and Asia, where multiple markets have seen significant growth in e-commerce sales, according to eMarketer.
Younger Generations Drive Cross-border E-commerce
WorldFirst finds that more than 50% of sellers using its cross-border e-commerce solution are Gen Z or Millennials, suggesting these generations of business leaders are more aware of global e-commerce opportunities.
Ding adds, “Consumers are increasingly buying directly through SMEs’ websites, online marketplaces and social media platforms. This means people are purchasing from businesses located across the globe without even realising they’re doing so. Younger business owners have spotted this opportunity to run their independent e-commerce stores or set up fronts on global e-marketplaces.”
However, challenges, ranging from the complexity in international payment and foreign exchange, payment fraud, and hidden service charges, still put away aspiring business owners, threat survival of start-ups and undermine durability of existing businesses.
To help solve these challenges, UK SMEs can streamline international operations by partnering with external vendors. UK business owners can open a World Account within minutes to be able to trade like a local around the world. The account supports payment collection with 14 local or cross-border accounts and pay-out in more than 40 currencies to over 130 countries and regions. WorldFirst's extensive partnerships with key e-commerce platforms facilitate seamless cross-border transactions.
WorldFirst has a strong track record in driving growth in e-commerce for SMEs. WorldFirst is the top payment service firm by transaction volume for China-based e-commerce businesses which sell on international e-marketplaces, such as Amazon and Lazada. In January 2024, new customer acquisition by WorldFirst in South-east Asia increased 16 times and the overall transaction volume of its customers in the region grew by 90% on year.
About WorldFirst:
WorldFirst is meeting the needs of SMEs engaged in international trade to expand globally. This includes global collection, making payments, currency conversion, risk management, and supply chain financing to help SMEs reduce costs and improve turnover efficiency to generate more revenue, and quickly capture global business opportunities. WorldFirst, which employs AI and other cutting-edge technologies for risk control, prioritizes the safety and security of client funds above all else and has a leading fraud-prevention track record in the industry. WorldFirst has served one million customers worldwide and is connected to over 120 marketplaces. WorldFirst was founded in 2004 and joined Ant Group in 2019. To learn more about WorldFirst at https://www.worldfirst.com/.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240326208316/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Curatis: Double-Digit Revenue Growth in 2025 and Major Milestones for Corticorelin Achieved24.3.2026 07:00:00 CET | Press release
Curatis Holding AG (SIX:CURN, “Curatis”) reports business revenues of CHF 10.8m (+57%) for 2025. Curatis AG increased sales in its distribution business organically by 13%, from CHF 9.5m to CHF 10.8m. The net result improved from a loss of CHF 4.3m in 2024 to a loss of CHF 1.4m in 2025. Further key statements In September 2025, our development plan for corticorelin was validated at a meeting with the FDA, enabling Curatis to proceed toward a regulatory submission supporting a pivotal study in patients suffering from peritumoral brain edema (PTBE). In November 2025, Curatis raised CHF 1.2m to progress corticorelin. The cash position as of year end 2025 was comfortable, standing at CHF 1.9m. Recently, Curatis announced a license agreement for corticorelin for Japan with significant milestone payments. Business development and finances In 2025, product sales amounted to CHF 10.3m, while service revenue amounted to CHF 0.5m. On a full year basis, Curatis AG increased revenues in its distri
AAD 2026: Galderma Showcases Latest Evidence Supporting Its Full-Spectrum, Science-Driven Solutions for Diverse Skin Needs24.3.2026 07:00:00 CET | Press release
From its Therapeutic Dermatology portfolio, Galderma will present data on the efficacy and safety of Nemluvio® (nemolizumab) in different patient populations with moderate-to-severe atopic dermatitis, including late-breaking data in pediatric patients, and share four posters on AKLIEF® (trifarotene)1-8 Additional presentations related to Dermatological Skincare will explore how artificial intelligence can identify high-risk factors for sensitive skin and Cetaphil® in different skin types9 Data from Galderma’s Injectable Aesthetics portfolio will also show how its hyaluronic acid injectables, Restylane®, and neuromodulator, RelabotulinumtoxinA*, may address aesthetic needs across the face and décolletage10-14 A total of 22 presentations will reinforce the value of Galderma’s broad and comprehensive portfolio in meeting varied patient needs across Therapeutic Dermatology, Injectable Aesthetics and Dermatological Skincare Galderma (SIX: GALD), the pure-play dermatology category leader, wi
Avanzanite Expands French Operations and Appoints Constance Sabbagh as General Manager24.3.2026 07:00:00 CET | Press release
Avanzanite Bioscience B.V., a rapidly growing commercial-stage European specialty pharmaceutical company focused on rare diseases, today announced its expansion into France, Europe’s second largest economy, and the appointment of Constance Sabbagh as General Manager, France. Following a €32 million Series A investment by MVM Partners announced in November 2025, Avanzanite is scaling its European infrastructure into a single, integrated platform across 32 countries – designed to bring rare disease medicines to patients in every European market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323639110/en/ Constance Sabbagh, General Manager, France “France is essential to Avanzanite’s European vision,” said Adam Plich, Co-founder and CEO of Avanzanite. “With its leadership in rare disease policy through its National Rare Disease Plans, care networks and scientific innovation, France is one of the most significant healthcare
HJS Foundation Releases JEP Protocol & HJS Framework: The "Black Box" for AI, Enabling Verifiable Human Oversight24.3.2026 04:36:00 CET | Press release
HJS Foundation (Human Judgment Systems Foundation) today released two complementary solutions: the Judgment Event Protocol (JEP) and the Human Judgment Structure (HJS) framework. As a minimalist open standard, JEP generates tamper-proof records of AI decision accountability, just like an aircraft black box; HJS embeds human judgment logic into AI operation processes — together, they transform "human oversight" from a regulatory requirement into a verifiable technical fact, providing an optional technical solution for AI accountability. How to prove that AI decisions (such as loan approvals, medical diagnoses, border screenings, etc.) have undergone human review? JEP generates immutable audit trails of human intervention through four cryptographic primitives — Judge, Verify, Delegate, Terminate; HJS builds a controllable and accountable system to prevent risks such as AI drift and ensure that human judgment guides AI operations. Current systems rely on alterable post-hoc documentation,
Power Integrations Extends Flyback Topology to Enable 440 W, Offering Simpler Alternatives to Resonant Power Designs23.3.2026 22:45:00 CET | Press release
New TOPSwitchGaN ICs more than double power output, reducing system cost, complexity, and design time APEC 2026 – Power Integrations (NASDAQ: POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today introduced a breakthrough in flyback topology extending the power range of flyback converters to 440 W—well beyond the limits that traditionally required more complex resonant and LLC topologies. The new TOPSwitchGaN™ flyback IC family unites the company’s groundbreaking PowiGaN™ technology with its iconic TOPSwitch™ IC architecture, reducing complexity, eliminating heat sinks in many cases, shortening design time, improving manufacturability, and lowering total system cost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323686299/en/ The new TOPSwitchGaN™ flyback IC family extends the power range of flyback converters to 440 W—well beyond the limits that traditionally required more co
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom