Cross-border electronic payments are an important link in the circulation of credit and currency，and have a key role in promoting the internationalization of the renminbi. This article examines the relationship between cross-border electronic payments and renminbi settlement and discusses the process of cross-border electronic foreign exchange collection and payment. It also looks at the rapid development of cross-border electronic payments，and how this can facilitate renminbi settlement of cross-border trade.

Cross-border Electronic Payment and Renminbi Settlement

The process of currency internationalization is largely an extension of the functions of a modern currency. An international currency has three major functions，namely as a bookkeeping unit，a transaction medium，and a means of storing value. Cross-border electronic payments are closely related to these three functions. The process of currency internationalization generally goes from settlement currency to investment currency and then reserve currency. Cross-border electronic payments are closely related to two of the major functions ¨C as a transaction medium and a bookkeeping unit in the private and official sectors. Third-party payment platforms connect the functions of transactions and accounting between the private sector and the official sector through cross-border electronic payments，and at the same time build a new means of making settlement of cross-border trade using renminbi.

Cross-border capital flows via the Internet are comprised of cross-border income and cross-border payments，and this naturally requires foreign exchange settlement and sales. Cross-border e-commerce generally processes cross-border payments and cross-border income through a third-party payment platform. The third-party payment platforms make aggregated purchases of foreign exchange. Some overseas electronic payment companies support the overseas online payment using bank cards from China in order to expand their footprint in China’s huge online payment market. Cross-border payment and cross-border income are closely related to renminbi settlement of cross-border trade.