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DHgate

DHgate.com

Barclays’ automated foreign exchange platform BARX NetFX helps the global online marketplace manage the FX risks of offering local currency pricing across multiple markets.

ChiaHuan Li, Director of Global Partnerships, DHgate – Camel Financial:

DHgate was established in 2004 as China's first cross-border B2B e-commerce platform dedicated to empowering small businesses to access global markets. Today DHgate serves over 15 registered international buyers from over two hundred and thirty countries and regions, connecting to over 2 million Chinese suppliers with over 40 million products listed on the platform. A few years ago, during the time when the market was expanding and customers were increasing dramatically from over 200 countries, we urgently needed to find a solution to enhance the ability for customers to pay in local currency. At the same time, we needed to consider minimising exposure to foreign exchange risk. Barclays reached to DHgate and proposed the NetFX solution.

Jordan Xu, Relationship Director, International Corporates, Barclays:

Our relationship with DHgate started from 2015. At that time, one of the pain points for DHgate was that it could not support its users to shop on the website in their preferred local currencies. When we realised the problem, we came up with the solution by applying our auto FX platform – NetFX, empowering DHgate with the capability of local currency acquiring and multi-currency pricing. The solution soon improved users experience, increased sales on the website and made DHgate one step further to achieve its company vision of “Buy Globally and Sell Globally.”

ChiaHuan Li:

Managing high volumes of transactions, across multiple currencies, requires a robust FX risk management approach. Barclays understands our business and was able to offer a solution that helped DHgate maintain its brand reputation and provide a great customer experience, while ensuring us managed FX volatility.

Camel Financial is a cutting-edge Fintech company hatched from the international e-commerce section of DHgate. Camel Financial plans to have more breakthrough financial innovation and together we hope to work with Barclays to explore more new business opportunities and create more mutually beneficial cooperation along the way.

Jordan Xu:

We look forwards to further expanding and deepening our cooperation with DHgate, as well as supporting Camel Financial to improve its own finance service capability. We will make joint efforts with DHgate to promote China’s Belt and Road initiative and the global trade development. 

ChiaHuan Li:

We are always amazed by Barclays tailor-made solution, as well as its professional service. We are looking forward to continued collaboration in the foreseeable future.

In partnership with financial solutions provider Camel Financial, global online marketplace DHGate.com connects 2 million Chinese consumer goods suppliers to customers in over 230 countries, selling over 40 million products.

Keen to allow buyers to pay easily online in their preferred local currency, Camel Financial sought a means to offer multi-currency pricing while minimising its own exposure to FX risk.

Working closely with Barclays, BARX NetFX, a fully automated service that can handle large volumes of FX transactions was identified as the optimal solution.

By providing FX rates that are held for a set period of time, BARX NetFX allows FX risks from selling online in multiple currencies to be passed directly to Barclays.

Since integrating BARX NetFX, DHGate.com has seen strong international sales growth. It’s now exploring how it can work with Barclays to support further initiatives.

Powering FX Payments for DHGate.com PDF†(2.9MB).

Barclays understands our business and was able to offer a solution that has helped Camel Financial and DHgate maintain its brand reputation and provide a great customer experience, whilst ensuring we manage FX volatility.

Jeffrey Zang

Director of National Business Unit, Camel Financial

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