Unlocking convenience with enhanced global access
Posted: Sun Jan 19, 2025 9:48 am
This enhancement builds on Western Union's existing relationship with Tencent Financial Technology and Shanghai Pudong Development Bank. In the current collaboration, Weixin users in China have the choice to use their Money Transfer Control Number (MTCN) to route their Western Union money transfers, originally intended for cash collection, to their bank accounts instead.
Today's announcement adds onto this, so senders abroad can also now push money transfers directly to their receivers' wallets or bank accounts available within Weixin's platform. Customers can send up to USD 5,000 (or local equivalent) per transaction1.
“We are thrilled to expand our services on Weixin, one of the top digital platforms in China that plays a significant role in the lives of over 1 billion users," said Sohini Rajola, Head of Asia Pacific at Western Union. "China is the third-largest recipient of remittances globally, receiving approximately USD 50 billion in 2023. Through our collaboration with brazil phone number data Tenpay Global, we are excited to further enhance our services to meet the evolving needs of customers. By providing a convenient and seamless experience for our customers, we are reaffirming our commitment to customer-centric innovation that empowers individuals and families to send and receive money across borders."
Creating global connections for China's digital-savvy consumers
China is known for its digital-savvy population. Industry reports state that China has long been the global leader in digital wallet adoption, underscoring the importance of digital-first money transfer avenues for customers.
“We are fully committed to improving the user experience, aiming to make cross-border transfers as simple as sending a message,” said Royal Chen, Vice President of Tencent Financial Technology. “Our focus lies in providing fast, convenient, and secure solutions that connect China with the global community. Weixin is a digital bridge that allows global users to connect across borders. As we move forward, we are constantly innovating to facilitate the creation of a borderless payment network."
Today's announcement adds onto this, so senders abroad can also now push money transfers directly to their receivers' wallets or bank accounts available within Weixin's platform. Customers can send up to USD 5,000 (or local equivalent) per transaction1.
“We are thrilled to expand our services on Weixin, one of the top digital platforms in China that plays a significant role in the lives of over 1 billion users," said Sohini Rajola, Head of Asia Pacific at Western Union. "China is the third-largest recipient of remittances globally, receiving approximately USD 50 billion in 2023. Through our collaboration with brazil phone number data Tenpay Global, we are excited to further enhance our services to meet the evolving needs of customers. By providing a convenient and seamless experience for our customers, we are reaffirming our commitment to customer-centric innovation that empowers individuals and families to send and receive money across borders."
Creating global connections for China's digital-savvy consumers
China is known for its digital-savvy population. Industry reports state that China has long been the global leader in digital wallet adoption, underscoring the importance of digital-first money transfer avenues for customers.
“We are fully committed to improving the user experience, aiming to make cross-border transfers as simple as sending a message,” said Royal Chen, Vice President of Tencent Financial Technology. “Our focus lies in providing fast, convenient, and secure solutions that connect China with the global community. Weixin is a digital bridge that allows global users to connect across borders. As we move forward, we are constantly innovating to facilitate the creation of a borderless payment network."