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Wise to enable international money transfers to China through Weixin

Thursday 27 January 2022 12:25 CET | News

UK-based fintech Wise has partnered with Tencent Financial Technology to allow its customers to send money to China from 11 currencies through Weixin.

With this launch, Wise’s customers will be able to send money from 11 currencies, including NZD, AUD, and USD, to Chinese Yuan (CNY) within minutes at the mid-market exchange rate to users of Weixin. Only the recipient’s name and Weixin ID is needed, making international transfers a process not requiring bank details and codes. The funds will reach the bank card linked to the recipient's Weixin account.

Wise has also recently augmented its Wise Business offering by launching B2B transfers to China from 8 currencies, including USD, GBP, and SGD. This allows businesses to make payments to their partners in mainland China at the mid-market exchange rate.

Wise offers tools to send money overseas cheaper than sending by bank. The company’s website and app are an engine of currencies and routes which facilitate international transfers.


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Keywords: money transfer, partnership, cross-border payments, B2B payments, digital wallet, expansion
Categories: Payments & Commerce
Companies: Tencent, Weixin, Wise
Countries: China
This article is part of category

Payments & Commerce

Tencent

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Weixin

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Wise

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