HomeSend, today announced an agreement with Geoswift to provide streamlined, efficient payment services into China. Through the partnership with Geoswift, HomeSend’s global partners can now provide their customers with the ability to send money directly to consumers and businesses in China, in local currency.
Geoswift is an innovative payment technology company connecting China and the rest of the world. Geoswift has a broad network of partners and direct merchants, both within China and worldwide, who rely on Geoswift for a one-stop cross-border payment solution into and out of China.
HomeSend, as a global remittance hub, is a service that bridges the gap between various entities globally such as financial institutions, non-financial entities and mobile network operators.
“Geoswift is committed to helping provide our clients and partners with safe, secure, best-in-class payment solutions for China,” said Raymond Qu, CEO Geoswift. “We look forward to working closely with HomeSend to extend its innovative cross-border payment services into China.”
“HomeSend continues to make significant progress towards our goal to build a world where international money transfer is safe, secure and affordable for all,” said Stephen Doyle, CEO, HomeSend. “The partnership with Geoswift connects HomeSend to the important Chinese receiving market, further reinforcing HomeSend’s position as the backbone of the international money transfer market.”
China is the second-largest payment receiving country in the world. The World Bank estimates that in 2014 more than US$64bn was sent home to China by migrants living outside the country. Geoswift’s coverage in China will enable HomeSend clients and hub members the ability to send funds to China smoothly and efficiently; with transactions settled to cards as well as bank accounts in Mainland China. Geoswift offers quick settlements, reaching the majority of the consumer and business accounts in China.
HomeSend enables the interconnection of an extensive range of payment services, allowing consumers to transfer funds directly using a mobile money account, payment card, bank account or cash at participating locations. Money can be sent from anywhere in the world by HomeSend’s partners. HomeSend is an ideal option for individuals working away from home to remit funds home to family and friends.