DBS Bank expands cross-border transfers

Introduced with TenPay Global, Tencent’s cross-border payment platform, the service enables DBS customers to send funds through DBS Remit on the digibank app

DBS Bank has launched instant remittances to Weixin Pay, expanding cross-border transfers into the Chinese mainland.

Introduced with TenPay Global, Tencent’s cross-border payment platform, the service enables DBS customers to send funds through DBS Remit on the digibank app.

Customers can transfer money directly to a recipient’s Weixin Pay wallet or linked bank cards.

Funds are credited almost immediately and can be used for transfers, top-ups and spending within the Weixin ecosystem, which serves more than one billion users globally.

TenPay Global supports remittances from over 100 countries and regions into Weixin Pay.

Customers add recipients using their Weixin or WeChat registered phone number and complete a one-time 12-hour cooling period before the first transfer.

Subsequent payments are processed instantly after the amount and purpose are submitted.

The launch comes ahead of Chinese New Year, when DBS typically sees around a 30% rise in remittances to China.

DBS and TenPay Global are also working to link DBS PayLah! with Weixin Pay, allowing more than three million users to scan or present QR codes at tens of millions of merchants across the Chinese mainland.

Sanjoy Sen, Group Head of DBS Consumer Bank, said: We’ve been seeing consistent double-digit year-on-year growth in DBS Remit funds sent to China, reflecting the strength of cross-border ties between Singapore and the Chinese mainland. The launch of this service is timely with Chinese New Year approaching.

During this festive season, we typically see around a 30% increase in remittances to China. Through our partnership with TenPay Global, we’re glad to be able to offer customers a trusted, seamless way to move money instantly and with confidence, at scale and with zero fees, he added.

Wenhui Yang, CEO of TenPay Global Singapore, said: By connecting Weixin Pay with DBS’ trusted banking and payment platforms, we are delivering compliant and user-centric cross-border solutions that simplify how money moves and how payments are made across borders.