PayFul: Payments for Chinese Companies — Guide

PayFul is one of the payment platforms that Ozon Global and Wildberries China sellers use to receive revenue and settle with suppliers. The interface is entirely in English, yet several fields must be filled in Chinese — which is exactly where even experienced sellers get stuck. This guide walks through the whole journey, from first login to a sent payment, and flags the spots where applications are most often rejected.

One important caveat first: for owners of Chinese companies who are Russian citizens, PayFul only supports transfers within China. You cannot withdraw funds abroad through this system; for moving money to Russia, banking channels are used instead (for example, VTB Shanghai) — more on this below.

What to prepare before you start

• Access to the PayFul dashboard with payment permissions.
• The payee's full bank details in Chinese: company name, account number, bank and branch name (for example, 中国工商银行 广州番禺支行), plus the branch's province and city.
• The company's Unified Social Credit Code (18 characters).
• Legal representative details: name in Chinese, nationality, ID number.

If the payee is an individual, the field set changes to personal data.

Step 1. Navigating the dashboard

After logging in you land on the home page. You will work in two blocks:

• Global Payments — the international payments section;
• Withdraw / Pay — money operations: Withdrawal Accounts (withdrawal accounts), Frequent Payees (regular payees), Settlement Quota, POBO Payer (payments in currency on behalf of your company).

Step 2. Add a payee to the directory

A payment cannot be sent "from scratch" — first add the payee to the Frequent Payees directory (the Common Payee Management section). This is also where you later search for counterparties by name, nickname or account number. Click + Add Payee.

Step 3. Bank account details

The Bank Account Info form is the first block. Fill in:

• Payee Type — Company or Individual;
• Bank Country/Region — for a supplier payment choose CHN-China;
• Account Currency — CNY;
• Payment Method — Bank transfer.

Step 4. Details: the golden rule — Chinese characters

Next come the account details. This is where applications most often get bounced back, because three fields must be completed in Chinese characters:

• Account Name — the payee company's name in Chinese, exactly as in the bank records;
• Bank Account — the account number;
• Bank Name and Branch name — bank and branch in Chinese: the bank is picked from a dropdown (e.g. 中国工商银行), the branch is typed manually (e.g. 广州番禺支行);
• Branch Province/City — province and city from the lists (Guang Dong Sheng / Guang Zhou Shi);
• Proof Material — optional supporting documents.

Step 5. Entity details

The Payee Info block:

• Payee nickname — a nickname for your list (e.g. "Guangzhou Test") to tell counterparties apart;
• Company Name — full name in Chinese;
• Unified Social Credit Code — the company's 18-digit code;
• Legal Representative Name — the representative's name in Chinese, nationality (中国), ID number;
• Industry and Economic Type — most often Private Limited Liability Company;
• Contact Person / Contact Phone.

Step 6. Address and saving the payee

The final block: Business Address (province, city, district from lists), Detailed Address (street and building, in Chinese), postal code and the special-economic-zone question (usually No). Save — the payee appears in the list with the Available status and Detail / Initiate Payment / Delete buttons.

Step 7. Sending the payment

Back on the home page, in the Payment section, click Initiate Payment. In the payee account selection form, expand Added Common Payee Account — your counterparty is already there with nickname, bank, currency and payment type. Select them, enter the amount and confirm.

Mind the mode: Real-time Payment settles instantly, Pending Payment is scheduled. For one-off supplier settlements, Real-time is the usual choice.

Step 8. Withdrawal: where and how

The Initiate Withdrawal button leads to withdrawals. The withdrawal account must be added in advance in Withdrawal Accounts and its name must match your company or its owner. Remember the caveat from the beginning: for Russian citizens this is within-China transfers only. If you need to move revenue to Russia, this channel will not work — see payment solutions for direct RUB/CNY schemes via Chinese banks.

Common PayFul mistakes

1. Latin letters in Account Name, Bank Name or Branch name — the form may accept them, but the receiving bank will return the payment. Chinese characters only, strictly per the bank records.
2. The company name in PayFul differs from the bank records — even an extra space causes a return.
3. Trying to withdraw to a non-resident's account abroad — compliance will reject it.
4. Paying without adding a payee: directory first, payment second — there is no other way.

FAQ

Can I pay individuals through PayFul?

Yes — choose Individual as the payee type; the field set switches to personal data.

What if my payment is stuck in processing?

Check the status in the Pending Payment section and the payee's details. With correct data, payments usually settle the same day; discrepancies result in a return with fees.

How do I pay a supplier if I don't have a Chinese company yet?

You can't — PayFul works together with a legal entity in China. If you need one, registration takes 7–10 days; here is the full process and pricing.

Need help with payments or registering a company in China? Message us on WhatsApp or Telegram — we will suggest a working scheme for your case and fix the price in the contract.

China Consulting team, Guangzhou — Hong Kong. Supporting Ozon Global and Wildberries China sellers: companies, banks, payments.

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