Travelex Launches Chinese Money Transfer Platform/Unveils Online FX Payment Solution

China Pay has signed an agent agreement with Travelex under which Travelex Money Transfer (TMT) will be the first money transfer company to offer payments from overseas directly to individual bank card accounts in China. This service will be available to all 500 million cardholders of China Pay’s member banks. Travelex also launched fxpaynet, an online foreign exchange payment platform designed to simplify the management of global payments and currency exposures for corporates and financial institutions. Customers using fxpaynet will be able to manage their currency exposure by booking forward and drawing down on forwards online, said Travelex. fxpaynet will be made available to third party banks around the world as a private-labelled solution.


Related reading