Revolut has signed a partnership with global digital payment, digitisation and financial technology provider Ant International to enable its users to send money to China via Alipay.

Launched in 2004, Alipay is the most widely used payment app in China and one of the 36 e-wallets supported by payment and digital marketing platform Alipay+ under Ant International.

The partnership will allow the global FinTech's 60 million customers worldwide to send money to China in Chinese yuan, with the recipient's Alipay ID, through Ant International's global remittance solutions.

Revolut said the move comes amidst strong demand and high payment volumes in the region, with China remaining one of the top five global remittance recipients in 2024, with an estimated inflow of $48 billion according to data from the firm.

To send money, users will need the Alipay ID, recipient's name and address, with transfers processed instantly.

Revolut added that it will offer a tiered fee system depending on the type of customer: standard (0.15 per cent fee), premium (0.12 per cent fee) or metal customers (no fee).

Raymond Ng, Revolut's managing director for Singapore and South-East Asia, said that the partnership marks a further step in Revolut's mission to break down financial barriers and provide innovative solutions to its customers.

“Our partnership with Ant International underscores our commitment to providing fast, secure and cost-effective solutions for global money transfers, further empowering our customers to manage their finances conveniently across borders,” he added.

Jacques Xu, general manager of global remittance business, Ant International, said the move aims to continue 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, " he added..

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