618The big sale is currently underway.

AliExpress’s ”618” overseas sale kicked off on June 1, while Joybuy—a subsidiary of JD.com—launched its ”Summer Black Friday” today (June 15) in six European countries.

Orders are on the rise, traffic is on the rise, but an overlooked problem is quietly emerging—The deal went through, but we haven't received the payment.

On June 15, the 21st Century Business Herald published an in-depth report stating that failed cross-border payments are ”eating into” 11% of global e-commerce sales. This refers to 11% of sales revenue, not profit.

In other words, for every 1 million worth of goods you sell, there may be 110,000 transactions that fail during the payment process—the buyer paid, but you didn’t receive the money.

I. How Did 11% Come About? 3 Real Reasons

The process for cross-border payments is much longer than that for domestic payments, and a problem at any stage can cause the transaction to fail:

During major sales events, these three factors will also compound:

A sudden surge in trading volume → Increased likelihood of risk control interventions

Simultaneous payments across multiple sites and currencies → A single-currency account can’t handle it all

Bank processing capacity bottlenecks → Transaction queues, timeouts, and failures

II. On the surface, it’s a payment issue; in essence, it’s an account structure issue

Many sellers rely on payment models such as ”one PayPal account for everything” or ”a single domestic bank card to accept multiple currencies.” While these models are barely usable on a small scale, when faced with transaction volumes on the scale of 618, the following issues arise:

PayPal's transaction limit per account was reached, and the account was frozen

When the bank's risk control team noticed that the average daily transaction volume suddenly jumped from a few thousand yuan to tens of thousands of yuan, the system automatically blocked the transactions.

When multiple currencies are deposited into the same account, currency conversion fees eat up 2%–5%.

The solution is not to switch to a different payment tool, but to establish a compliant multi-account, multi-currency payment collection framework.

III. Best Practices for Cross-Border Payments

Option 1: Hong Kong Company + Hong Kong Bank Account (Preferred by Small and Medium-Sized Enterprises)

After registering a Hong Kong company, open a Hong Kong bank account (HSBC, Bank of China, Dah Sing, etc.) to receive payments directly from the platform into your Hong Kong account. Advantages:

Hong Kong has no foreign exchange controls, and multiple currencies can be freely deposited into accounts.

We accept direct payments in multiple currencies, including Hong Kong dollars, U.S. dollars, euros, British pounds, and Japanese yen, with no need for intermediate conversion.

The banking system is well-established, and its processing capacity is reliable during major sales events.

Profits can be retained in Hong Kong to take advantage of offshore tax benefits

Option 2: Diversifying Payments Across Multiple Accounts (for Medium to Large Sellers)

Open 2–3 bank accounts at different banks under the Hong Kong company’s name, and allocate incoming payments by currency or platform:

Account A: U.S. Dollar Receipts (Amazon U.S.)

Account B: Euro Receipts (Amazon Europe/FNAC)

Account C: Pounds Received (Amazon UK)

Benefits of decentralized payment collection: If a single account experiences issues, it won’t affect the entire business.

Option 3: Third-Party Payment Platform + Hong Kong Bank (Balancing Flexibility and Compliance)

Some orders are processed through third-party platforms such as PayPal and Stripe, while large payments are processed directly through a Hong Kong bank account. These two channels complement each other, increasing the success rate of payment collection.

If you're interested, feel free to scan the QR code to contact me.Cell phone: 18676749275 ｜ WeChat: qcygscszk

IV. Why isn’t switching to a different cross-border payment platform enough to solve the problem?

Many cross-border payment ads promise ”zero fees, instant transfers, and global payments.” But during major sales events like 618:

Bank channels for payment platforms are also prone to congestion

Risk control rules can also fail under extreme trading volumes.

Once an account is suspended by a payment platform, the appeal process can take up to several weeks.

Key Differences:

Third-party payment platforms: You receive payments through someone else’s account, and the rules are set by the platform.

Your own Hong Kong bank account: You receive payments directly from the platform into your own bank account, making this the most direct payment route.

The busier the season, the more important it is to receive payments through your own bank account. That way, you retain control over your funds.

V. Qicaiying: Experts in Cross-Border Payment Structures

Qicaiying Group provides cross-border sellers with one-stop cross-border payment processing solutions:

✅ Hong Kong Company Registration: 5–7 business days; handled by licensed attorneys and certified public accountants; includes a registered address and secretarial services

✅ Hong Kong Bank Account Opening Green Channel: We partner with major banks such as HSBC, Bank of China, Dah Sing, Chong Hing, and CBI Fuhong, and our account opening success rate is among the highest in the industry.

✅ Planning a Multi-Account Payment Collection Architecture: Design multi-bank account portfolio solutions by currency, platform, and business line

✅ Optimization of Multi-Currency Payments: Reduce currency conversion losses and increase the success rate of payments

✅ Funds Compliance Repatriation Plan: Standardize the compliant repatriation of profits from Hong Kong to the Mainland through dividend payments, trade in services, and other means

Free Cross-Border Payment Infrastructure Assessment

618 is still seeing a surge in orders—are your payment channels ready?Cell phone: 18676749275 ｜ WeChat: qcygscszk

”Notes on the Payment Structure”: Qicaiying Consultants is here to help youFree Cross-Border Payment Infrastructure Assessment, assess whether your current payment collection model poses a risk of not receiving payments during major sales events, and provide recommendations for the optimal payment collection solution.

About Enterprise Caiying Group

Established in 2015 and headquartered in Shenzhen, Qicaiying Group specializes in providing one-stop financial, tax, and corporate compliance services to cross-border e-commerce companies and businesses expanding overseas. Its services include Hong Kong and overseas company registration, bank account opening, cross-border financial and tax compliance, ODI filing, VAT/EPR registration, bookkeeping services, and corporate identity planning. Having served over 50,000 companies to date, it is a trusted financial and tax compliance partner for cross-border sellers.