Tunes Allow users to send money Weisin1.3 billion users in China thanks to a new partnership of cross-border payment networks with Tencent Financial Technology.
Tencent Financial Technology, the fintech arm of Chinese conglomerate Tencent, has become the first payment infrastructure partner to connect to the network.
This Thunes and Tencent integration bridges the gap between networks and Weixin users.
The partnership will allow Thunes network members to send international money transfers to Weixin users in addition to accessing the Chinese market.
Weixin, along with its international version of WeChat, facilitates one of the most widely adopted payment methods in China. This includes Weixin Pay with his nearly 1.3 billion users in mainland China.
Partnership officials hope the ability to send money to Weixin users will create additional revenue opportunities for the wider economy.
These opportunities include a Chinese engineer in East Africa who wants to send money to his family back home, or a young professional working in the US who wants to send money to his parents in China.
Our partnership with Thunes and Tencent makes payments from around the world faster and easier.
Describing China as a “global leader in digital payments and payments innovation,” Daphne yellowThunes’ SVP of APAC recognizes the role of mobile payments at the forefront of the country’s digital evolution.
“We are excited to be able to connect customers around the world with Weixin’s large consumer base,” Huang confirms.
She hopes this will create significant opportunities for service enhancement and revenue generation “for all members of our ecosystem.”
In addition to these thoughts, Wenhui YangGeneral Manager of Tencent Financial Technology APAC, ensures that Thunes’ new partners are “always looking for better ways to serve their users.”
“With this move, we strive to improve the seamless payment experience and make cross-border money transfers as easy as sending a message,” he continues.
The news follows Tunes publication plans to strengthen the partnership and accelerate its expansion earlier this year.
Thunes clients expect the latest collaboration to establish the potential for new product innovations and service enhancements, bringing them closer to a future where payments cross borders.