HONG KONG, November 2 – Tencent’s cross-border payment platform, TenPay Global, has partnered with UnionPay International to expand overseas money transfer services for users in China through the Weixin digital wallet.
The two companies signed a memorandum of understanding (MOU) during Hong Kong FinTech Week 2026. This marks their first collaboration specifically focused on cross-border remittances.
The partnership aims to connect more international banks and financial institutions to China’s digital payment network. It will also explore ways to make international money transfers faster, more convenient and more affordable.
Expanding International Money Transfer Services
Under the agreement, TenPay Global and UnionPay International will explore solutions for two-way cross-border money transfers.
TenPay Global already works with more than 60 major international banks and remittance institutions. Its platform supports money transfers to China from over 150 countries and regions.
Through this partnership, the companies plan to connect TenPay Global’s existing services with UnionPay International’s extensive global network of financial partners.
This could give overseas customers more options when sending money to recipients in China.
Faster Transfers Through Weixin Wallets
The collaboration will also build on TenPay Global’s existing remittance services to Weixin wallets.
According to the announcement, transfers to Weixin are available 24 hours a day, seven days a week, with funds potentially reaching recipients within one minute.
The platform uses automated identity verification and compliance screening to help protect transactions. These checks are completed within milliseconds, allowing transfers to be processed without unnecessary delays.
Direct transfers into digital wallets can also reduce the costs involved in delivering money to recipients.
Supporting the Future of Digital Payments
Wenhui Yang, Chief Executive Officer of TenPay Global (Singapore), said the company’s goal is to make sending money as simple as sending a message.
He added that working with UnionPay International would help bring convenient remittance services to more overseas users through financial institutions they already trust.
Meanwhile, Xia Zhi, General Manager of the Innovative Products Department at UnionPay International, said the partnership would extend the company’s existing UnionPay MoneyExpress services to the Weixin wallet.
The collaboration is expected to provide customers with more choices when transferring money internationally.
Strengthening Global Financial Connections
The partnership comes as countries continue working towards faster, cheaper and more transparent international payment systems.
The G20 introduced a cross-border payments roadmap in 2020, with a target of improving international payment services by the end of 2027.
China-related remittances remain an important part of this effort, particularly for people who live, work or maintain family connections across different countries.
UnionPay International currently works with more than 2,600 financial institutions across 183 countries and regions. Its global network includes over 110 million merchants and 1.8 million ATMs outside mainland China.
Through this latest collaboration, Tencent and UnionPay aim to strengthen international payment connections and create more convenient ways for people to send and receive money across borders.
Source : PR Newswire | Rewritten By Minutesmy
