Finablr and Alipay enter into cross-border remittance partnership
The first phase of the partnership has been completed with the successful integration of the Finablr platform with Ant Financial’s remittance system.
Forex and payment technology expert Finablr PLC (LON:FIN) today announces a cross-border remittance partnership with Alipay, a leading payment and lifestyle platform operated by Ant Financial.
Alipay users are set to benefit from seamless access for remittances through Finablr’s omnichannel network, which covers physical and digital touchpoints across 170 countries, through its brands Xpress Money, Travelex, Unimoni and UAE Exchange. Via this collaboration, Finablr becomes one of the first cross-border remittance partners for Alipay.
The first phase of the partnership has been completed with the successful integration of the Finablr platform with Ant Financial’s remittance system, facilitating seamless remittances through Finablr’s global network. The partnership is exploring the extension of the remittance service to Ant Financial’s ecosystem remittance network, including Alipay’s global e-wallet partners.
The partnership leverages Finablr’s technology, omnichannel capabilities and global network reach and Alipay’s dedication to harnessing the power of digital and mobile technology to make financial services more inclusive and affordable, especially for underserved and underbanked individuals worldwide.
In addition, Finablr and Alipay will explore other areas of collaboration in technology innovation, including digital gifting and driving efficiencies through the Ant Blockchain Information System.
Promoth Manghat, Group CEO of Finablr, commented:
“We are delighted to welcome Alipay to our growing portfolio of partners. Together we seek to empower the financial aspirations of billions of consumers with enhanced access and convenience for their cross-border payments needs. We will continue to build on our complementary capabilities and look forward to collaborating with Alipay on additional opportunities.”
Clara Shi, Alipay’s head of the global remittances business, said:
“We are excited to partner with Finablr for global remittances, as we continue to explore new ways to apply our technology in order to benefit more people around the world. For example, using blockchain technology developed by Alipay, we have helped launch a blockchain remittance service between our e-wallet partners AlipayHK and GCash, providing round-the-clock, real-time transfers between Hong Kong and the Philippines.”