Euronet's Ria Money Transfer and Tenpay Global Form Partnership for Digital Remittances to Weixin

​Ria Money Transfer has entered into partnership with Tenpay Global to enhance cross-border payment capabilities between China and the global market. This collaboration aims to provide secure and convenient remittance services to users worldwide.

Ria, a prominent player in the cross-border money transfer sector and a part of Euronet, announced the partnership with Tenpay Global, Tencent's cross-border payment platform. This new collaboration allows users to send funds from Ria's digital and physical channels directly to their Wallet Balance or linked bank accounts in Weixin Pay, a major payment and digital wallet service in China.

According to the World Bank, China ranks among the top three countries for remittance inflows, receiving approximately $50 billion in 2023. With this partnership, Ria aims to leverage the extensive Weixin and WeChat user base, contributing to its mobile network that encompasses around 3.1 billion wallet accounts globally. Ria operates more than 595,000 locations across nearly 200 countries and territories, allowing Weixin Pay users in China to receive remittances from various international sources, facilitating flexible spending options such as transfers, top-ups, and shopping.

Shawn Fielder, President and CEO of Ria Money Transfer, stated, “This partnership aims to utilize technology and our extensive network to facilitate connections between people and communities.”

Royal Chen, Vice President of Tencent Financial Technology, commented, “This collaboration is centered on providing cross-border remittance solutions that help bring families closer. Using the Weixin ecosystem, we aim to deliver reliable and convenient services that meet users' needs in an evolving financial landscape.”

This partnership is expected to play a significant role in enhancing the remittance experience for users, contributing to the growing demand for cross-border payment solutions.