NEWS RELEASE
7th April 2021 SBI Remit Co., Ltd.
SBI Remit and UnionPay International Collaborate in International Remittance Business - Greater Convenience for Remittances to China -
SBI Remit Co., Ltd. (Head office: Minato-ku, Tokyo, Representative Director: Nobuo Ando, hereinafter “SBI Remit”), an international money transfer service business operator and a subsidiary of SBI FinTech Solutions Co., Ltd., a total FinTech solution company, has concluded a business collaboration agreement with UnionPay International Co., Ltd. (Head office: Pudong New District, Shanghai, Chairman: Cai Jianbo, hereinafter “UnionPay International”), a leading international bankcard scheme, aimed at improving the convenience of remittances to China.
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In its China-bound remittance services, SBI Remit has already been offering bank transfer and cash pick-up services. The former has many users, and there is high demand among recipients for immediate deposit into their account. To meet these needs, SBI Remit felt that, given UnionPay is a preferred payment tool in China, providing direct remittance into UnionPay card accounts would help to raise customer satisfaction, which led to the agreement with UnionPay International.
With this agreement, SBI Remit’s customers will now be able to remit funds in real time to UnionPay card accounts at 21 Chinese banks, including Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, China Everbright Bank, and Huaxia Bank, through MoneyExpress, an international remittance service provided by UnionPay International.
SBI Remit will continue to conclude agreements with financial institutions overseas in its efforts to provide safe and secure remittance services that are also convenient and comfortable.
◼ UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2400 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 68 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
◼ Domestic receiving institutions of Mainland China that support MoneyExpress are as follows: ・Industrial and Commercial Bank of China Limited ・Hunan Rural Credit Cooperative ・Bank of China ・Qinghai Rural Credit Cooperative ・China Construction Bank ・Guangdong Rural Credit Cooperative ・Agriculture Bank of China ・Henan Rural Credit Cooperative ・Bank of Communications ・Bank of Inner Mongolia ・China Everbright Bank ・Zhejiang Rural Credit Cooperative ・Hua Xia Bank ・Wuhan Rural Commercial Bank ・Harbin Bank ・Shanxi Rural Credit Union ・Bank of Shanghai ・Bank of Hainan ・Fujian Rural Credit Cooperative ・Guangxi Beibu Gulf Bank ・Linshang Bank
◼ About SBI Remit Company Name : SBI Remit Co., Ltd. Head Office : 1-6-1 Roppongi, Minato-ku, Tokyo Established : August 2010 Representative : Representative Director Nobuo Ando Capital : JPY 50 million Business Outline : International remittance service URL : https://www.remit.co.jp/
◼ About UnionPay International Company Name : UnionPay International Co., Ltd. Head Office : Building B, Poly Plaza, No.6 Dongfang Road, Pudong New District, Shanghai, China Established : November 2012 Representative : Chairman, Cai Jianbo Business Outline : International card scheme URL : https://www.unionpayintl.com/en/
Contact for related inquiries SBI FinTech Solutions Co., Ltd. TEL: 02-2038-2791 Email: [email protected]