Revolut has partnered with Ant International to enable customers to send Chinese Yuan to China using a recipient’s Alipay ID. The service is powered by Ant International’s global remittance solutions.
China is among the top five global recipients of remittances in 2024, with an estimated inflow of US$48 billion.
It is also the second most common remittance destination for Australia.
Revolut’s collaboration with Alipay is positioned to support this demand by offering fast, secure and cost-efficient transfers to China.
Transfers can be made using a recipient’s Alipay ID, name and address, with payments processed instantly.
“For our customers here in Australia, sending money globally, especially to a major economic partner like China, is a significant need. We consistently see strong demand for a service that is both secure and affordable. We’re thrilled to partner with Ant International to enable our customers to transfer money to China almost instantly via Alipay,”
said Greg McDonnell, Head of Retail Australia at Revolut.
He added that the arrangement provides Australian users with a fast and cost-effective option for international transfers and reflects Revolut’s ongoing efforts to simplify cross-border payments.
“We are grateful to collaborate with industry leaders like Revolut to redefine cross-border remittance experiences. Through Ant International’s solutions, we are enabling more partners to easily manage and grow their remittance business while meeting customers’ needs on speed and security,”
said Jacques Xu, General Manager of Global Remittance Business at Ant International.
To send money to China via Alipay, users can open Payments in the app, select ‘Send international’, choose China mainland as the destination, enter the amount, select Alipay as the method, and provide the recipient’s Alipay ID and details.
The partnership adds to Revolut’s existing international transfer options, including PayTo, PayID, BPAY, bank transfers and peer-to-peer payments.
Featured image credit: Edited by Fintech News Hong Kong, based on image by mrsiraphol via Freepik
This article first appeared on Fintech News Australia