Singapore’s AXS, Aleta Planet Offer UnionPay-Powered China Remittances

Singapore’s costs work supplier AXS has announced a caller business pinch fintech institution Aleta Planet to connection remittance services to China.

This collaboration comes arsenic a solution for consumers affected by a recent prohibition connected money transfers to China done non-bank and non-card channels.

AXS’s mobile app will now alteration users to nonstop money via nan UnionPay International network, utilising Aleta Planet’s exertion for accelerated and unafraid transactions, typically wrong 60 seconds.

The move addresses concerns raised by galore Chinese nationals who knowledgeable issues pinch accepted remittance services, including stiff costs owed to investigations into money laundering.

AXS is introducing a promotional S$1 transportation interest for nan first 5,000 customers, pinch nary minimum remittance request initially. Post-promotion, a S$300 minimum will beryllium enforced.

Chin Mun Chung, CEO, AXS Services said,

“We are thrilled to partner pinch Aleta Planet to bring a faster, much secure, and cost-effective remittance work via UnionPay web to our group of users that requires an approved transmission to remit money to China.

As portion of our strategical vision, AXS will beryllium looking into expanding nan remittance work to much corridors to amended service our users.”

Ryan Gwee, Founder and Group Chairman, Aleta Planet said,

“Aleta Planet is excited to collaborate pinch AXS to empower them pinch nan capabilities to connection a reliable and businesslike remittance work to its users, via nan UnionPay International network.

This business reflects our committedness to simplifying analyzable cross-border transactions.”