London-based TransferWise is the latest FinTech company to team up with Alibaba-owned Alipay.
The partnership is set up to give Chinese customers new ways of sending and receiving money. All users need to send is the intended recipient’s name and Alipay ID.
The money will be transferred from one currency to another like the Chinese yuan at the real exchange rate without any extra fees.
Users can send money from a personal account from 17 currencies. The are the pound sterling, euros, Bulgarian lev, Czech koruna, Danish krone, Hungarian forint, Norwegian krone, Polish złoty, Romanian Leu, Swedish krona, American dollar, Canadian dollars, Australian dollars, Croatian kuna, Hong Kong dollars, Singapore dollar and Japanese yen. Business accounts are currently not supported.
TransferWise is only the latest company to team up with Alipay. In the past few months, WorldRemit, Finablr, SnapPay and Tyro have all worked together with the Chinese business.
Copyright © 2020 FinTech GlobalTransferWise, China, Alipay, China,
