June 3, 2024. Paris, France - The 10th European Forum 2024 was successfully held in Paris. Co-hosted by the China Europe International Business School(CEIBS) and the Paris Ile de France Chamber of Commerce and Industry, the forum focused on the theme of "Innovation & Mutual Success: The Future of China-France Relations", with policy makers, entrepreneurs, experts, scholars, and other political and business leaders from both China and France gathering to share their valuable insights and experience and explore how, in the face of fierce international competition, cultural differences, policy risks, and other challenges, French and Chinese enterprises can harness innovation to thrive in an uncertain era.
Shi Xiaodong, President of NEXGO, was invited to attend the forum and delivered a keynote speech titled "Practice of Chinese Enterprises Going to Europe". In his speech, he analyzed global payment industry trends and shared NEXGO's strategies and experiences in international expansion.
Mr. Shi highlighted the continuous increase in global non-cash payment penetration rates and the promising outlook for the payment hardware market. He noted that the global payment industry is undergoing a digital transformation, with strong demand for intelligent hardware and software value-added services. The booming cross-border e-commerce sector also presents significant opportunities for cross-border payments. Against this backdrop, he asserted that Chinese payment enterprises are entering a golden era for international expansion.
Mr. Shi emphasized that localization capabilities are crucial for the success of Chinese enterprises going global. Founded in 2001, NEXGO has always regarded international markets as a key strategic focus, with its products exported to over 90 countries and regions worldwide. He stressed that NEXGO's international strategy involves a phased approach: initially focusing on payment hardware, followed by the expansion of payment platforms. Since entering the overseas financial POS market through NEXGO in the United States in 2015, NEXGO has evolved through three phases: overseas payment hardware, local acquiring services, and cross-border payments, culminating in the launch of its overseas payment brand PayKKa and B2B cross-border payment products in 2023.
Looking ahead, Shi Xiaodong aims to position NEXGO as a benchmark for domestic digital payment technology companies venturing abroad. He seeks to actively contribute to the development of a global licensing framework, strengthen cross-border ecosystem construction, and promote the digital transformation of the global payment industry.
