Aleta Planet Partners for China Money Transfers

2020/06/04 Innoverview Read

The China-focused payments firm formerly known as Moovpay has announced a new partnership to facilitate digital fund transfers to China.

Aleta Planet is partnering Zhongguo Remittance to launch Aleta China Express (ACE), an online service that offers consumers a fast and secure way to send money from the city-state to China, the startup announced on Thursday.

Operating on the UnionPay platform, the service allows Singapore residents, including Chinese students and migrant workers who make up the bulk of Zhongguo Remittance’s customer base, to send money to bank accounts in China within 60 seconds, the announcement said. There is no service fee for transfers of up to S$1,000 until 31 August 2020.

Timely Partnership

Zhongguo Remittance CEO Jed Huang called the partnership «timely,» as many of its counter services have been curtailed because of movement restrictions put in place to curb the spread of Covid-19.

The company operates four branches and has a staff of 70 in Singapore. The firm added that it hopes to expand operations in Southeast Asia in the near future.  

(Source: VentureBeat )