Azimo, a European digital money transfer service provider, announced today that it has partnered with China’s largest mobile payment application Alipay to provide instant payments to its customers.
This collaboration enables Azimo users to transfer RMB to Alipay users from more than 25 European countries/regions, which provides services to more than 1.2 billion people worldwide.
Instant transfer is very possible. Azimo users only need to enter the recipient’s name and Alipay ID to start the transfer. The money will then be sent to the bank account linked to the payee’s Alipay profile. You can also use Alipay’s local digital wallet partners to send money.
Alipay (Alipay) operated by Ant Financial, the financial services department of Alibaba, is on the device Customers can open the Alipay (Alipay) application to buy goods in the store, and then scan the QR code provided by the retailer.
The partnership uses a real-time clearing and settlement infrastructure to instantly transfer money to a bank account in China, similar to the”faster payment” in the UK.
London-based Azimo hopes this transaction will help accelerate its customer base and increase transaction volume. By providing instant or one-hour transmission to more than 80 countries/regions, Azimo is providing this experience to its now more than 1 million users.
The World Bank said that China is one of the world’s largest remittance destinations, and it is expected that more than US$50 billion of Chinese diasporas and immigrants will return home this year.
“By 2020, sending money abroad should be as easy as sending someone a photo. The cooperation with Alipay enables us to provide our customers with an instant, seamless user experience when they send money to China ,” said Richard Ambrose, CEO of Azimo.
China’s largest payment service Alipay (Alipay) is owned by Ant Financial Services Group (Ant Financial Services Group) and Operations. The company owns nearly 70%of China’s third-party mobile payment market.
The company controlled by billionaire and Alibaba co-founder Ma Yun recently established cooperation with large European institutions Partnership to make it easier for more than 1.2 billion active users to continue to use Alipay extensively in Europe. This means that they can use their Alipay account to purchase goods in RMB.
Source:China Gold Net