LONDON—Paysend said it is now collaborating with Alipay, which has more than one-billion users, to provide Paysend's users with cross-border money transfer services.
Paysend said the agreement is a significant step forward toward creating a more inclusive and accessible global money transfer market. Alipay, China's largest mobile payments business currently serves about 1.3 billion users around the world together with its local e-wallet partners.
Paysend currently services over two million customers in more than 45 countries. Under the partnership, Paysend said it 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.
“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,” said Ronnie Millar, CEO of Paysend.