Western Union introduces international money transfers for Weixin users in China
Western Union has launched inbound international money transfers for Weixin’s approximately one billion users in China.
Activated in collaboration with Shanghai Pudong Development Bank and Tencent Financial Technology, Chinese customers will now be able to receive money in real-time through the “Weihuikuan” Mini Program, a lite app integrated in Weixin. Weihuikuan offers a completely digital, in-app experience, enabling Weixin’s approximately one billion users to receive international cash transfers from their loved ones digitally, into their bank accounts.
“The future of money movement is about choice, supported by technology-led innovative partnerships,” said Jenny Wu, Country Director of China and Mongolia at Western Union. “China is the third largest recipient of remittances globally, receiving approximately USD53 billion in 2021. This makes it even more imperative that Western Union delivers on its commitment to transform experiences for the country’s tech-savvy customers.”
Western Union’s network reaches billions of bank accounts, including millions of wallets and cards in over 130 countries, and Agent locations in more than 200 countries and territories. Today’s announcement will enable Weixin users in China to receive Western Union money transfers in Renminbi equivalent of up to USD 3,000 per transfer. Weixin users can deposit their funds real-time into their bank accounts by entering the Money Transfer Control Number (MTCN) and other relevant details in the “Weihuikuan” mini program.