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DBS Bank launches free, instant remittances to China’s Weixin Pay, targeting Chinese New Year demand.
DBS Bank has launched a free, instant remittance service to Weixin Pay in China, allowing customers to send money directly to e-wallets via its digibank app, with a 12-hour cooling period for first-time users.
The service, developed with TenPay Global, targets the Chinese New Year peak, when remittances to China typically rise 30%.
DBS, among Southeast Asia’s first banks to link directly with Weixin Pay, noted strong year-on-year growth in transfers, driven by Singapore’s large China-born population.
A similar fee-free service launched the same day by digital bank MariBank, also with TenPay Global, offers no fees until June 30.
DBS Bank lanza remesas gratuitas e instantáneas a Weixin Pay de China, dirigidas a la demanda del Año Nuevo chino.