Paysend partners with Tencent Financial Technology for money transfers through Weixin

By Joy Dumasia

Paysend, the card-to-card pioneer and international payments platform, announces a technology partnership with Tencent Financial Technology, the FinTech arm of world-leading internet and technology company Tencent, enabling people to receive money through Weixin the PRC version of WeChat targeting users in mainland China.

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.

Paysend is increasing financial inclusion at scale through continued investment in technology, innovation, and expanding its global payments network. Serving more than five million customers in over 135 countries worldwide, 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.”

Recently, IBS Intelligence reported that Paysend, the card-to-card pioneer and international payments platform, announced the appointment to its board, former President Mastercard Europe, Javier Perez, as a non-executive director.