Mastercard and TenPay Global target China’s vast remittances market

Details: Vaughan O'Grady; Category: Mobile Finance; 09 December 2025; 10956 views

TenPay Global, the cross-border payment platform of Chinese multinational technology conglomerate Tencent, and Mastercard Move, payment giant Mastercard’s money movement business, have announced a collaboration.

The partnership aims to facilitate fast, secure and transparent digital remittances directly to Weixin Pay, a leading mobile payment service within the Weixin ecosystem in China. Through Mastercard Move – Mastercard’s portfolio of money movement capabilities – eligible senders around the world will be able to send salaries and family support directly to Weixin Pay Wallet Balance or linked bank cards in Weixin Pay.

Mastercard cites World Bank figures indicating that personal remittances received by China were about US$31.41 billion in 2024 and that the demand for fast, secure and convenient cross-border money transfers continues to accelerate.

It points out that by connecting Mastercard Move’s global network and money movement capabilities with Weixin’s extensive user base and ecosystem, this collaboration creates a seamless pathway for global cross-border money movement into the Chinese Mainland.

Anouska Ladds, Executive Vice President, Commercial New Payment Flows, Asia Pacific, Mastercard, explains: “Across Asia Pacific, digital wallets are already an integral part of everyday life. With this collaboration, recipients gain fast, secure and transparent access to funds right where they already pay.”

Wenhui Yang, CEO of TenPay Global (Singapore), adds: “Together with Mastercard, we are unlocking new opportunities and greater convenience for people around the world to send money back home. This marks another step forward in supporting the growing money transfer needs of a globally connected user base.”

Today, Mastercard Move reaches nearly 10 billion endpoints worldwide, including bank accounts, card, wallet, and cash payout locations. This collaboration extends Mastercard Move’s reach to a staggering number of potential new customers – over 1.4 billion Weixin and WeChat users.