UnionPay International and Tencent’s TenPay Global Sign Memorandum of Understanding to Collaborate on Cross-Border Remittances
- Written by: Telegraph Magazine
This agreement marks the first collaboration between the two parties in the cross-border remittance sector, aiming to jointly deliver convenient and efficient cross-border transfer services.
Under the MOU, the two companies will jointly explore convenient cross-border remittance services, drawing on their respective strengths in networks, platforms and use cases to improve cross-border remittance efficiency and lower last-mile costs.
Beyond this collaboration, UnionPay International continues to drive innovation in international money transfers through its flagship UnionPay MoneyExpress solution. UnionPay MoneyExpress brings mature and comprehensive cross-border capabilities to the partnership, catering to diverse scenarios including personal remittances, corporate payroll, and international insurance claim payouts. For corporate clients, the service streamlines foreign exchange conversions and reduces intermediary bank overhead, enabling businesses to optimize operational efficiency and manage cross-border funds with greater precision.
As cross-border economic activities accelerate across the Asia-Pacific region, the demand for international capital flows continues to rise. UnionPay has already rolled out UnionPay MoneyExpress across 14 APEC economies, establishing a solid foundation for this collaboration.
Moving forward, UnionPay International will continue to deliver secure, efficient, and innovative cross-border payment solutions for global consumers and enterprise partners.
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The issuer is solely responsible for the content of this announcement.
