Paysend said the agreement is a significant step forward towards creating a more inclusive and accessible global money transfer market. Alipay, China's largest mobile payments business op-erated by Ant Group, currently serves about 1.3 billion users around the world together with its local e-wallet partners.

Paysend is licensed and regulated by FCA in UK and already services over 2 million customers in over 45 countries. Under the partnership, Paysend will facilitate overseas users to send money across borders through licensed banks in China, with the funds reaching bank accounts linked to the Alipay app.

Ronnie Millar, CEO of Paysend, said of the partnership: “Paysend’s vision is using the most ad-vanced technology to make payments faster and easier for millions of customers around the world. Working with Alipay, we aim to bring a new dimension of convenience and simplicity to the movement of money.”

“We look forward to working closely with Paysend as we continue to explore new ways to apply our technology in order to benefit more people globally,” said Ma Zhiguo, Alipay’s head of the global remittances business. “We are committed to working with partners such as Paysend, us-ing innovative technologies to help global consumers gain access to inclusive financial services.”

Paysend expects the collaboration to especially benefit migrant workers around the world, particularly in Asia, where it has a foothold in the money transfer market through local partners.