Credit Card Handling, Invoicing and Payment Processing Services

Chinese currency is usually a non-convertible currency and the Chinese have strict currency exchange controls. Broadway hold all necessary foreign exchange trading and currency licenses from the Chinese Government to allow Chinese customers without access to foreign exchange, or without foreign exchange credit or debit cards, to freely purchase goods or services in Chinese RMB, while Broadway remits the corresponding foreign exchange directly to the client on a monthly or bi-weekly basis.

Not only is getting currency out of China difficult, the regulations for invoicing in China are also very, very different from those people are used to in the West. All Chinese currency invoices must be issued by a local Government Tax Office! Simply sending a paper invoice to your client is not a valid invoice. We ensure that Chinese customers get a proper Chinese invoice adhering to local legislation and ensuring that local sales tax is collected. This makes sure that no taxation issues occur when selling in China either for you or your client.

For this service we charge a 5% handling fee – plus a $100 per month management fee. Bank transfer fees when remitting to the client vary from country to country and are chargeable to the client. However, fees for transfers to us (if a payment is made by bank transfer from a customer in China to Broadway) are not subject to an additional charge. We operate on a fixed exchange rate to prevent daily fluctuations in prices within China and this is currently 6.5RMB to US$1, 10RMB to 1Pound Sterling and 8.5RMB to 1 Euro. These rates are subject to change, but these changes will be notified to clients in advance of any movement.

Within China the process works in the following way; We invoice customers of our clients in RMB for the goods/services ordered, and our client invoices us in their currency for the sales amount. less our 5% processing fee.

We provide a payment gateway page when required, for e-commerce sites, and this automates the order process to inform the client when payment has been received by Broadway Payment Processing and has been approved (if by Credit/Debit card) with authority to ship goods or supply the services. This notification will also provide the information required for the client to invoice Broadway.

Assistance can also be given with handling any import duties and freighting issues, if required. Freight forwarding assistance can also be made available by our partners in the USA, Netgain Co. (www.netgainco.com)

For more information, on this or any aspect of our services, contact us today with your details or email now.