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Alipay, WorldRemit partner to offer cross-border remittance services

AlipayLondon-based WorldRemit, an online money transfer service company, has partnered with Hangzhou-based Alipay, the mobile and online payments platform operated by Ant Financial. The collaboration entails the usage of the WorldRemit app or website for cross-border remittances to the Alipay app, thereby leading to increased convenience to consumers along with inclusive transfer services to users globally.

Tamer El-Emary, Chief Commercial Officer, WorldRemit stated, “Our vision is to build a mobile-first, international payments service and we’re excited to work with Alipay as a partner.” He further mentioned, “The partnership will focus on innovation, customer experience and speed to market.”

A similar partnership transpired in January between FinTech company Tranglo and Alipay, to offer cross-border remittance services for customers globally. Licensed and regulated by the Monetary Authority of Singapore to perform remittance business, Tranglo maintains its remittance corridors with partners from the UK to Australia.

“We look forward to working with WorldRemit to build a remittance service that is fast, secure, and cost effective,” said Ma Zhiguo, Alipay’s Head of Global Remittances. “The unique mobile to mobile payment experience that this partnership delivers allows us to provide a convenient money transfer service to Alipay customers.”

WorldRemit’s mobile-first approach to digitising remittances in collaboration with Alipay will make remittance services more convenient and affordable, especially for migrant workers around the world. In many markets across the globe, the vast majority of remittances are sent via a physical agent which usually is subject to high transfer fees. The partnership between both parties will make financial services more inclusive and affordable, especially for the underserved and underbanked individuals.

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