DHgate and Merge Announce Strategic Partnership to Power B2B Cross-Border Payments
Merge, a London-based fintech company that provides payments and banking infrastructure for digital businesses, has announced a new strategic partnership with DHgate, a leading global B2B e-commerce marketplace.
The partnership will integrate Merge's advanced API for cross-border payments into DHgate's platform, making transactions smoother and more cost-effective. This means DHgate's customers will enjoy a simpler payment process, reduced transaction costs, and more payment options, eliminating many of the issues faced by marketplaces when using traditional payment service providers.
Leveraging the recent activation of both EMI and VASP licences, Merge's fully regulated API technology enables businesses to easily create, deploy, and manage payment collection and disbursement without requiring significant engineering resources. This provides partners with a more cost-effective, compliant solution for building new payments products or enhancing existing services.
For DHgate, Merge's technology will enhance the overall payments experience and boost conversion rates on their platform. The API grants access to real-time, local payment rails that ensure instant payments and settlements, and significantly reduced chargebacks compared to traditional card payments, all at a fraction of the price.
DHgate joins a long list of prestigious businesses currently utilising the Merge API, showing the growing need for cross-border payments rails within the global eCommerce landscape. With the cross border B2B payment market size valued at around $150 billion in revenue in 2024, Merge is set to expand its global reach and improve the payment rails available to businesses and marketplaces worldwide.
The partnership is a key step in expanding Merge's global presence and reinforcing its mission to facilitate seamless cross-border payments. It also reflects DHgate's commitment to offering reliable, diverse payment options to support the needs of its global customer base.
Kebbie Sebastian, CEO of Merge, said: By removing the payment friction that often slows international trade, we're helping platforms like DHgate unlock new markets and better serve their global customers. It's a strong validation of our infrastructure and a step forward in our mission to modernize how money moves across borders. This partnership with DHgate reinforces Merge's commitment to enabling efficient, reliable payments for established global platforms.'
Jin Xinyu, Payment Director at DHgate, added: 'As the global leading B2B cross-border e-commerce marketplace, DHGate is at the forefront of innovation in global commerce and money movement is a critical part of that. We are glad to leverage Merge's transformational technology to expand our customer base by offering faster, more cost effective payment options to our customers.
Companies In This Post
Merge
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Telegraph
21 minutes ago
- Telegraph
High energy costs trigger closure of major UK wind turbine supplier
A major supplier to Britain's green energy industry is set to close after its Japanese owner failed to clinch a rescue deal for the company and its 250 workers. Wigan-based Electric Glass Fiber UK (EGFU), which is owned by Nippon Electric Glass (NEG), makes vital components used in wind turbines and electric cars. Its closure puts net zero supply chains under threat. Both are seen by the Government as critical to its industrial strategy amid moves to decarbonise the British economy and to build up domestic supplies of critical products at a time of tariffs, wars and mounting geopolitical rivalries. The British operation was profitable as recently as 2022, but made losses of £3m in 2023, mounting to £12m in 2024, according to the Japanese owner, which first invested in the UK arm in 2016. It blamed competition from Chinese imports as well as the rising cost of raw materials, in financial statements published in last year, which could only be partially passed on to customers in the form of higher prices. The business also said rising energy prices were putting pressure on operations. Britain's manufacturers typically pay far higher bills than competitors in countries including France and Germany, even though much of the Continent has been exposed to higher gas and electricity costs since Russia's invasion of Ukraine in 2022. British and European authorities sought to protect domestic fibreglass manufacturers from perceived unfair competition from China, imposing 'anti-dumping' tariffs on imports from the world's second-largest economy in 2020. The measures are set to run until early next year. Most of the company's sales go to European customers. But the tariffs were not sufficient to preserve the Wigan plant. NEG said the closure of the site, just west of Manchester, came despite intense efforts to find an alternative. Production will cease later this month. 'Voluntary liquidation' The parent company said:'NEG has considered various options, including the possibility of selling EGFU, forming strategic partnerships, or cessation of its business activities during the approximately two and a half month strategic review period. 'In order to quickly rebuild our composites business, we have determined to cease EGFU's operation and proceed with preparations for voluntary liquidation.' The closure comes after Sir Keir Starmer stepped in to rescue British Steel, taking control of the business as the Prime Minister deemed the Scunthorpe site to be critical to the country's industrial security. In that instance, a Chinese owner's planned closure would have threatened the nation's remaining steel production capacity, with ramifications for industries from construction to defence at a time when the Government wants both of those sectors to ramp up output urgently.
Daily Mail
22 minutes ago
- Daily Mail
Grain barge becomes great home as luxury vessel moored on the Thames goes up for sale for £1.5million
A grain barge reborn as a luxury floating home on the Thames is on the market for £1.5million. Moored on a long-term residential berth at St Mary's Wandsworth Pier in southwest London, the impressive 131ft Belgian Spitz vessel has been transformed into a four-bedroom houseboat. It is complete with panoramic Thames views, bespoke interiors, and modern comforts designed for year-round living. Owners David Karat, from the US, and his partner moved into the barge in August 2021, after its initial conversion by previous owners. Since then, they've poured time, effort and 'more than they had intended' into upgrades, but Mr Karat insists it was money well spent. He said: 'The owners before us had done all the hard work of sourcing this amazing grain barge from Antwerp and creating the foundation that we built upon. 'The layout and position of the boat was perfect for updating to the most modern and advanced systems and materials. 'In all we spent more than we intended. Hundreds of thousands of pounds that would have been wasted on other things were funnelled this way instead.' Now, the couple is moving to New York, and are putting their remarkable home on the market. Mr Karat said: 'Nothing compares to life on the water. The fresh air, the sounds of the water, the wildlife and the community are special and provide a unique experience. '[It's] an oasis with really easy access by Thames Clipper from the Wharf to anywhere in Central London. Or the train from Clapham Junction is a short walk away. It is special.' Originally built to carry grain, the Spitz barge now boasts bespoke finishes, high-spec insulation, and an automated waste pump-out system, ideal for riverside living in all seasons. A decked garden at the entrance offers an inviting welcome, while inside, the open-plan kitchen and saloon provide plenty of space for day-to-day life and entertaining. Below deck, the main living room features warm wood panelling and a wood-burning stove that makes the space feel homely and rich in character. The barge includes four en-suite double bedrooms, the master suite being a highlight. Measuring 25ft 9in by 15ft 7in, it comes with its own stove, walk-in wardrobe, and a luxurious en-suite bathroom with a roll-top bath and separate shower. The couple spent 'more than they had intended' upgrading the vessel but they say that every penny was worth it. Pictured: One of the bedrooms Up top, the original wheelhouse has been redesigned as a stylish reception room, opening onto a generous sun deck, perfect for taking in the riverside views. A designated parking space is included, and residents benefit from a 24-hour concierge at the pier. Between Battersea and Wandsworth bridges, the home is near shops, bars and restaurants, with easy links to Fulham and Chelsea. 'I am heading back to the US to live, so [I] wish to leave it to someone else to enjoy.' With a rare combination of history, design, and location, the former grain barge now offers one lucky buyer a chance to call the Thames home.
Reuters
22 minutes ago
- Reuters
Madrid rivals ride the same wave as Ares join Mbappe in SailGP move
LONDON, June 18 (Reuters) - Wall Street investment powerhouse Ares Management has sailed into partnership with Real Madrid striker Kylian Mbappe, acquiring a minority stake in the France SailGP Team — where old rivals suddenly find themselves in the same boat. The $546 billion asset manager, which counts Atletico Madrid among its sports investments, now shares an ownership table with Mbappe's Coalition Capital in the high-speed sailing franchise, creating a curious alliance between the Spanish capital's two soccer teams. "We are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflection point," said Jim Miller, Co-Lead of Ares' Sports, Media and Entertainment strategy, whose firm also holds stakes in Inter Miami and McLaren Racing. The investment coincides with SailGP revealing it will add two new national teams for its 2026 season, expanding to 14 flying catamarans that rocket across global waters at speeds approaching 100 km/h. "The investment in our French team by an organisation with a stellar portfolio underlines the strength of SailGP's global league model," said league Managing Director Andrew Thompson. One of the six original SailGP Teams, the French team is spearheaded by driver Quentin Delapierre who assembled a stellar crew line-up when he took over as driver in Season 2. Known for executing stellar starts and performing in wild and windy conditions, the team holds the SailGP racing speed record of 99.94 km/h set in Saint Tropez, Season 4. France are currently sixth in the standings after a recent podium finish in New York. Spain, led by Olympic champion Diego Botin, top the 2024–25 season standings with 46 points. The next race comes at the British Sail Grand Prix in Portsmouth on July 19–20. Founded in 2019 by Oracle's Larry Ellison and sailing great Russell Coutts, SailGP has rapidly evolved from centralised ownership to a franchise model that has attracted celebrities and institutional investors alike. Hollywood stars Hugh Jackman and Ryan Reynolds recently acquired the Australian team, while a consortium of sports industry leaders took control of the Italian entry. Professional services firm Deloitte will manage the selection process for the two new teams, with initial bids closing in mid-August and final decisions expected by early September.
