Paysend, Alipay partner on global remittances

By Robin Amlot

UK-based FinTech Paysend has announced a technology collaboration with Alipay to provide Paysend’s users with cross-border money transfer that brings more convenient and inclusive services. Alipay is China’s largest mobile payments business, operated by Ant Group, and currently serves about 1.3 billion users around the world together with its local e-wallet partners. Paysend is licensed and regulated by the UK Financial Conduct Authority and services over 2 million customers in more than 45 countries.

Under the partnership, the UK FinTech will facilitate overseas users to send money across borders through licensed banks in China, with the funds reaching bank accounts linked to the Alipay app.

Ronnie Millar, CEO, said: “Paysend’s vision is using the most advanced technology to make payments faster and easier for millions of customers around the world. Working with Alipay, we aim to bring a new dimension of convenience and simplicity to the movement of money.”

“We look forward to working closely with Paysend as we continue to explore new ways to apply our technology in order to benefit more people globally,” said Ma Zhiguo, Alipay’s head of the global remittances business. “We are committed to working with partners such as Paysend, using innovative technologies to help global consumers gain access to inclusive financial services.”

Paysend believes the collaboration will especially benefit migrant workers around the world, particularly in Asia, where it has a foothold in the money transfer market through local partners. Paysend operates with a global network of banks, international and local payment systems, and has partnerships with international card networks Visa, Mastercard and China Union Pay as a principal member and certified processor.