LONDON – 29 DECEMBER 2021 – Paysend, the card-to-card pioneer and international payments platform, today announces a technology partnership with Tencent Financial Technology, the fintech arm of world-leading internet and technology company Tencent, that will enable people receive money through Weixin, the PRC version of WeChat targeting users in mainland China.
Under the partnership, Paysend will enable users to send money across borders through licensed banks in China, with the funds reaching bank accounts linked to the Weixin app. With features like low fixed fees on money transfers, competitive exchange rates and international payments, Paysend is changing how people manage money globally.
Through continued investment in technology, innovation and expanding its global payments network Paysend is increasing financial inclusion at scale. Serving more than five million customers in over 135 countries around the world, Paysend can enhance money transfers to China through this new partnership with Tencent Financial Technology.
Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend, said: “The meteoric rise of mobile and app-based payments in China has brought convenience to the lives of over one billion people. This new partnership with Tencent Financial Technology expands acceptance of Paysend transfers to Weixin users, and underlines our ambition to use the most advanced technology to make payments faster and easier for millions of people around the world.”
Wenhui Yang, General Manager, Tencent Financial Technology Asia Pacific, said: “As customer preferences change, companies like Paysend provide an easier, more convenient, and lower cost alternative for people to send money to friends and family. Ultimately, our partnership is another step in promoting openness and interoperability among the digital payment industry, thereby increasing convenience for customers who can send and receive money in the way that makes most sense to them.”
Paysend is a next generation integrated global payment ecosystem, enabling consumers and businesses to pay and send money online anywhere, anyhow and in any currency. Paysend is UK-based and has global reach having been created in April 2017 with the clear mission to change how money is moved around the world. Paysend currently supports a cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes, providing over 40 payment methods for online SMEs.
Paysend can send money to 135 countries worldwide and has attracted more than five million consumers to its platform. As a global end-to-end payment platform, Paysend has its own global network of banks and international and local payment systems and has partnerships with the major international card networks Visa, Mastercard and China Union Pay as a principal member and certified processor.
For further information visit https://paysend.com.
Head of PR and Communications