Wise has announced a technology partnership with Tencent Financial Technology which will enable international money transfers to China through Weixin.
With this latest 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 fuss-free and convenient process without requiring complicated bank details and codes. The funds will reach the bank card linked to the recipient’s Weixin account.
Wise has also recently bolstered its Wise Business offering by launching B2B transfers to China from 8 currencies, including USD, GBP and SGD. A long-standing customer request, this allows businesses to make payments to their partners in mainland China at the mid-market exchange rate.
Wenhui Yang, General Manager, Tencent Financial Technology Asia Pacific, said: “The partnership with Wise marks a key milestone in enabling users worldwide with the ability to send money into China through Weixin. The collaboration is another step in bringing convenience to our recipients in China leveraging on Wise’s global reach together with Weixin, a platform our recipients in China are most familiar with.”
