London-based FinTech unicorn TransferWise said on Tuesday (March 17) that it is partnering with Alibaba’s Alipay to power international money transfers in China.
“We’re on a mission to make your life easier and save you money. With this partnership, you’ll be able to send CNY to Alipay users seamlessly or receive money faster and easier from TransferWise,” according to a statement by TransferWise.
The partnership gives TransferWise’s estimated 7 million customers the ability to transfer Chinese yuan from 17 currencies to Alipay’s 1.2 billion users across the globe. Money can also be sent using Alipay’s local digital wallet partners.