UK-based global fintech company Paysend has forged a technology partnership with China-based mobile and online payment platform Alipay.

Through this partnership, Paysend will allow its foreign users to send money overseas through licensed banks in China.

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These payments will be directly transferred to bank accounts linked to the Alipay app.

Alipay, with its local e-wallet partners, currently has 1.3 billion users around the world.

Alipay head of global remittances business Ma Zhiguo said: “We look forward to working closely with Paysend as we continue to explore new ways to apply our technology in order to benefit more people globally.

“We are committed to working with partners such as Paysend, using innovative technologies to help global consumers gain access to inclusive financial services.”

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Paysend said that collaboration will especially benefit migrant workers in Asia and around the world.

The partnership will help Paysend create an inclusive and accessible global money transfer market for its consumers globally.

Commenting on the partnership, Paysend CEO Ronnie Millar said: “Paysend’s vision is using the most advanced technology to make payments faster and easier for millions of customers around the world.

“Working with Alipay, we aim to bring a new dimension of convenience and simplicity to the movement of money.”

Licensed and regulated by the Financial Conduct Authority (FCA), Paysend serves more than two million customers in over 45 countries.

The company partners with card issuers including Visa, Mastercard, and Union Pay as a principal member and certified processor.