First Global Data, a Canadian financial services technology firm, has entered into an agreement with China-based LianLian Pay for cross border messaging remittance solution.
The remittance solution – Happy Transfer – will be initially trialed in the US, and will be available to WeChat Remittance users.
The solution features a comparison pricing engine, which shows cost savings vis-a-vis peer companies in the cross border space.
First Global and LianLian also plan to expand the social messaging remittance solution beyond the North America to capture wider geographic distribution base.
LianLian Pay COO Ken Zheng said: “We spent three intensive, strenuous and sleepless months to get this project launched from just an inspired idea to a whole set of indigenous systems, comprehensive AML and risk control mechanism and seamless user experience.
“We are undoubtedly confident in the potential and future size of the remittance market, but it is both teams’ commitment and dedication that gives me the ultimate faith in the prosperity of this business.”
First Global chairman and CEO Andre Itwaru said: “The vision of both companies is similar as we both focus to become leaders in the mobile and cross border payments sector. The social messaging remittance solution that has emanated from mutual collaboration demonstrates the value of the combined synergies.”