• Enables YeePay’s merchant customers to access local UK and European payment infrastructure 
• Supports Asia-based businesses expanding internationally with regulated, local banking services 

YeePay, one of China’s leading third-party payment institutions, has chosen ClearBank, the enabler of real-time clearing and embedded banking, as its safeguarding bank provider in the UK and Europe, supporting its mission to help merchants expand into international markets with confidence. 

The partnership is designed to enhance YeePay’s customer offering by enabling merchants to access local, regulated banking and payment infrastructure as they enter the UK and European markets. This includes the ability to collect and pay out funds locally, helping reduce operational friction and support compliant cross-border growth.  

YeePay processes over USD $720 billion in transactions annually and provides digital transaction and cross-border payment services across more than 200 countries and regions. Its international expansion strategy focuses on obtaining local licenses in key markets, including the UK and the Netherlands, to meet growing merchant demand for trusted, locally regulated payment services.  

Through its partnership with ClearBank, YeePay will be supported in its applications for Electronic Money Institution (EMI) licence with the UK’s Financial Conduct Authority (FCA) and De Nederlandsche Bank (DNB). Once approved, ClearBank’s banking infrastructure will enable YeePay to provide indirect access to UK and European payment schemes and issue named local virtual IBANs (VIBANs) to its end-merchant customers for collections, payouts and safeguarded funds.  

For ClearBank, the partnership reinforces its role as a banking partner for Asia-based fintechs expanding into the UK and Europe, supporting clients with established transaction volumes and international ambitions. ClearBank UK will also onboard existing regulated entities within the YeePay group, enabling certain payment activities and VIBAN issuance to be conducted within the scope of their existing regulatory permissions.