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May 19, 2015updated 04 Apr 2017 4:02pm

Transfast launches online money transfer service to China

Transfast, a provider of cross-border payments solutions, has expanded its mobile and online funds transfer service into China.

By Verdict Staff

Transfast, a provider of cross-border payments solutions, has expanded its mobile and online funds transfer service into China.

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The service will allow customers to send funds via mobile or online to recipients’ accounts at all major Chinese banks within 24 hours.

Transfast said direct bank transfers can be sent to all major Chinese banks, including ICBC Bank, China Construction Bank, Agricultural Bank of China and Bank of China.

Transfast CEO Samish Kumar said: "As an established and dominant cross-border payments solutions provider to more than 100 countries, Transfast is pleased to be introducing direct credit to bank accounts in China within 24 hours."

In order to send money to China, customers will have to log onto to www.transfast.com or download Transfast’s free app for iOS mobile devices.

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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