Appalicability
The applicant institutions should confirm their UnionPay membership and business license first.
- If not a UnionPay member yet, please join UnionPay as a member and apply for a MoneyExpress business license.
- If already a UnionPay member but don’t have a MoneyExpress business license, please extend your MoneyExpress business license.
Applicant institutions should implement an AML Program, follow due diligence procedures, and follow all requirements under applicable law.
Scenarios
Inbound Mainland China Remittance
Cross-Border Remittance (excluding Mainland China)
Payment Flow
Use Case
1 . Wise
Wise is one of the fastest growing financial companies. It is an innovative remittance service for the younger generation. Enjoyed by young people for its online/mobile financial services, it has become one of the most popular money transfer services around the world.
2 . Paysend
Paysend displays the rate, transfer fee and receivable amount before you make the transfer. Transfers are sent within seconds to your recipient’s bank. It offers global 24/7 support.
Features
Fixed FX rate at time of sending
Supports sending money to regions where UnionPay cards are issued
Supports various sending channels
Directly deposit to a card account
Simple & relatively low-fee structure
Low development costs based on an existing integrated UnionPay business platform
Secure UnionPay network
Kindly Reminder