Frequently asked questions
What is LATIPAY?
The LATIPAY payment gateway is aimed solely at bridging the gap between China and New Zealand. It delivers the tools to expand economic links and grow trade by allowing currency to be seamlessly transacted cross border from CNY to your local currency.
Our payment gateway is compliant in China, is low risk, does not charge any fees or commission and allows currency to flow in excess of the annual Chinese currency cap of USD$50,000.
Who can use LATIPAY?
LATIPAY can be used by anyone who needs to transfer CNY into a NZD account.
The LATIPAY payment gateway is built for the benefit of two distinct groups of users:
New Zealand merchants, exporters, education and travel providers can send invoices and payment requests to Chinese clients, provide shipping updates and tracking information, track payments made by clients in China and at the end of a transaction, receive a payment in New Zealand dollars directly into their New Zealand bank account.
Chinese payers, businesses, students, travellers and consumers can pay for goods, study, flights or experiences in CNY using AliPay, WeChat, JDPay or one of 19 compliant online banks.
Is LATIPAY available outside of China and New Zealand?
Currently the LATIPAY payment gateway is programmed to allow CNY to NZD or AUD payments.
Expansion is in the pipelines though! We are working around the clock to broaden the LATIPAY horizons so the following currencies can be transacted:
- CNY - SGD
- CNY - USD
How much does it cost to use LATIPAY?
At LATIPAY, we pride ourselves on charging no fees and no commission, so from our perspective, having a LATIPAY account is free of charge.
When you transfer money into your LATIPAY account using an outside payment platform, for example, WECHAT, JD PAY or ALIPAY, these outside providers may charge an additional service or transaction fee. You can find out more about these fees on each individual payment platforms website.
Are there any additional costs I should be aware of?
Other than the service charges applied by the external payment providers, (mentioned above) the only other cost you should be aware of is a bank fee for payments to overseas bank accounts.
When withdrawing funds from your LATIPAY account, payment to a New Zealand bank account is free of charge, however payment to an overseas bank account incurs a bank fee of NZD $25 per withdrawl. Please note that these figures are subject to change.
Who is currently in the LATIPAY network and using the LATIPAY payment gateway?
We have an extensive group of New Zealand merchants who are currently utilising the LATIPAY payment gateway. Take a look at our '"Case Study" section that features some of our most valued clients.
Who are LATIPAY’S partners?
We have worked with New Zealand’s top organisations and leading compliance lawyers to ensure the very highest levels of compliance and legality are integrated with the LATIPAY payment gateway.
We also work alongside our trusted technology partners to ensure we are constantly offering you the best products and solutions possible. LATIPAY’S technology partners provide a range of comprehensive services and professional industry solutions that are market leading and constantly ahead of the game.
Does the annual USD50k cap for money flowing out of China apply to transactions sent via the LATIPAY payment gateway?
No. The annual USD$50,000 cap does not apply when sending money via the LATIPAY payment gateway.