Weixin Pay users can now receive cross-border transfers from Xoom, a PayPal (NASDAQ: PYPL) service and a digital remittances provider.
This new partnership between Tenpay Global, Tencent’s cross-border payment platform, and Xoom allows Weixin Pay users to “receive money directly into their Weixin Pay Wallet Balance or bank accounts linked to Weixin Pay through Xoom or PayPal’s mobile app and website.”
Four screenshots of a cellphone demonstrate the “use of Xoom to send money to Weixin.”
Xoom or PayPal users in the United States, Canada, and Europe “can
send remittances to Weixin in just a few simple steps.”
Xoom and PayPal users in the United States, Canada, and Europe can now access “reliable and affordable cross-border money transfers to their own or family members’ Weixin Pay accounts, with additional countries to come in the future.”
Weixin Pay users can receive the funds in a frictionless manner, typically in as fast as a few minutes, for flexible use “within the Weixin app for transfers, top-ups and shopping.”
Paul Bances, Vice President of Market Development for Xoom said:
“Xoom has long been known as a fast, easy, inexpensive way to send money to friends and family across borders – and now, being able to send funds to Weixin Pay users from the US, Canada and Europe, we’re continuing to connect users wherever they might be and for what they might need funds for.”
Wenhui Yang, CEO of Tenpay Global (Singapore) said:
“This partnership reaffirms Tenpay Global’s commitment to not only bridging the Weixin ecosystem with the global markets but also enhancing user value through streamlined and secure cross-border remittances. By addressing everyday needs – from family support to daily expenses – we aim to create meaningful value in our users’ lives beyond mere transactions.”
The service is now live and available “through the Xoom and PayPal mobile app.”
An enabler of digital remittances, Xoom is a fast and easy way “to send money, pay bills and reload phones for friends and family in approximately 160 countries globally.”
With Xoom, customers can access a fast and reliable way “to send money, by simply downloading the Xoom or PayPal mobile app, or visiting Xoom.com or PayPal.com.”
As mentioned in the announcement, Tenpay Global, the cross-border payment platform of Tencent, is the gateway to “cross-border payment solutions for businesses and individuals.”
Tenpay Global offers scenario-based services for “different customer groups, including cross-border consumption, cross-border remittances, and cross-border commerce scenarios.”
Together with global partners, Tenpay Global is committed to “bridging the world’s payment networks with Weixin’s ecosystem in China.”