Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
JD.com Expands Robot Delivery Service to New City
China Meets 5G Base Station Target 3 Months Early
China Unicom Revenue Growth Accelerates Even as Subscribers Fall
Trending in China: Is Education To Blame For China’s Falling Fertility Rate?
Trending in China: Winning Fewer Games and More Battles? PLA Ends Sporting Tradition
China Calls Time on Chipmakers With No Experience, No Technology and No Talent
Alibaba-Backed Lender in Credit Frenzy for ‘Double Eleven’ Shopping Fest
Intel Plays It Safe in Selling China-Centered Memory Outfit to Non-Chinese Buyer
Chinese Muji Lookalike Opens Its First Store in Paris
VW partner Hino to make electric trucks and buses with China's BYD
Pakistan Lifts TikTok Ban and the Fans Come Running Back
SBCVC-Backed Dingdang Kuaiyao Nets $150m in Series B+ Round
Dao Foods Taps Alternative Protein Space, to Back Up to 30 Chinese Startups in 3 years
Trending in China: China’s Fight Against Child Sex Crimes – Good in Theory But Will It Work in Practice?
‘Honor of Kings’ Reclaims Crown as World’s Highest-Earning Mobile Game, Besting PUBG
Tesla Rival Xpeng Produces 10,000th P7 Electric Car at Wholly-Owned Plant
Top Lawmakers Slam Draft Facial Recognition Laws as Vague and Open to Abuse
Swiss Watch Exports Decline, Leaving Industry More China-Reliant
Alibaba Blends Brick-and-Mortar, Online Grocery Shopping With $3.6 Billion Investment
China’s Mobile Tower Giant Reports Modest Revenue Growth
TransferWise and Alipay Team Up for International Money Transfers

By Ding Yi / Mar 17, 2020 11:51 AM / Business & Tech

Photo: VCG

Photo: VCG

British fintech company TransferWise has established a partnership with Chinese mobile payment service Alipay for cross-border money transfers.

The tie-up will enable TransferWise’s more than 7 million customers to send money held in 17 currencies to Alipay users as Chinese yuan, according to a statement TransferWise emailed to Caixin Tuesday. Alipay serves over 1.2 billion people globally.

TransferWise users will need to fill in the recipient’s name and Alipay ID before transferring money to the bank account linked to the recipient’s Alipay profile, the statement said.

In 2018, China received $67 billion in overseas remittances, making the country the second-largest recipient of such payments after India with $79 billion, a World Bank report showed.

Contact reporter Ding Yi (yiding@caixin.com)

Related: WeChat Pay Targets Chinese Students Abroad in Cross-Border Service Expansion

Share this article
Open WeChat and scan the QR code