According to reports in foreign media, UK's online money transfer service provider TransferWise recently announced that the company would cooperate with Chinese mobile payment giant Alipay to provide instant transfer service in 17 currencies in China.

With the cooperation, TransferWise will be able to access up to 1.2 billion users of Alipay and further enhance its expansion in Asia.

It is said that TransferWise handles total transfer of USD6 billion globally on a monthly basis. The company entered the Asian market at the end of 2019 and its first stops are Indonesia and Philippines.

As a fintech start-up established in 2011, TransferWise provides users with more convenient and lower price international money transfer service than banks.