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Barclays understands our business and was able to offer a solution that has helped DHgate maintain its brand reputation and provide a great customer experience, whilst ensuring we manage FX volatility.
Jeffrey Zang, Supply Chain Finance Director, DHgate
Over 30 million products are available, across a wide range of categories including Apparel & Accessories, Computers & Networking, Consumer Electronics, Toys & Hobbies, Health & Beauty, Auto and more. DHgate provides a buyer protection plan, a secure refund policy, express delivery and shipment tracking, and is committed to providing a fast, easy, and safe buying experience to businesses and consumers worldwide.
DHgate has customers from over 230 countries and regions and the ability for customers to pay in local currency was essential to their online retail strategy. As a result, DHgate needed to consider solutions that offer multi-currency pricing while minimising exposure to foreign exchange risk.
DHgate selected BARX NetFX, a fully automated risk management solution, provided by Barclays, for organisations with large volumes of low-value FX transactions. BARX NetFX provides FX rates that are held for a set period of time, allowing DHgate to offer a local currency sales proposition and pass the FX risk associated with selling online in multiple currencies, directly to Barclays. DHGate has seen significant international sales growth since implementation of the solution.
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