{"id":296380,"date":"2026-02-13T17:48:09","date_gmt":"2026-02-13T17:48:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/296380\/"},"modified":"2026-02-13T17:48:09","modified_gmt":"2026-02-13T17:48:09","slug":"dbs-launches-zero-remittance-fee-payment-service-to-chinese-digital-wallet","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/296380\/","title":{"rendered":"DBS launches zero-remittance-fee payment service to Chinese digital wallet"},"content":{"rendered":"<p>The bank is also looking to link its DBS PayLah! service to Weixin Pay to further cross-border payments<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">[SINGAPORE] DBS customers looking to transfer money to Chinese e-wallet Weixin Pay accounts without having to pay remittance fees can now do so with a new service by the bank.  <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The cross-border payment service to the Chinese digital wallet, also known as WeChat Pay, was launched on Friday (Feb 13) by DBS and TenPay Global, Chinese technology company Tencent\u2019s payment platform.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The launch comes a few days before the start of Chinese New Year, when DBS handles 30 per cent more in remittances to China, said its group head of consumer bank, Sanjoy Sen.\u00a0<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">He added: \u201cWe\u2019ve 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.\u201d  <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Users can enable DBS\u2019 service through the \u201coverseas transfer\u201d option in the DBS digibank application, where they enter the details of a Weixin-registered recipient. The first payment goes through after a 12-hour cooling-off period.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">No fees are charged for such direct transfers of money to Weixin-registered recipients. The funds can go into the recipient\u2019s Weixin Pay wallet or to bank cards linked to Weixin Pay.<\/p>\n<p>Navigate Asia in<br \/>a new global order<\/p>\n<p class=\"font-lct text-lg font-normal leading-snug -tracking-2%\">Get the insights delivered to your inbox.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Traditional remittance services provided by banks typically entail paying overseas transfer fees and foreign exchange (FX) charges, depending on market conditions and FX markups. Using global money-transfer platforms like Wise could also involve similar FX markups.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Yang Wenhui, chief executive officer of TenPay Global (Singapore), said: \u201cBy connecting Weixin Pay with DBS\u2019 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.\u201d  <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">DBS also aims to connect DBS PayLah! with Weixin Pay. Users of the local mobile payment platform can make payment by scanning Weixin Pay quick response (QR) codes, or by presenting their own QR codes when transacting with businesses in China.<\/p>\n<p class=\"mb-6 border-b border-gray-250 pb-4 font-poppins text-4xs font-medium tracking-widest text-gray-515\">SEE ALSO<\/p>\n<p><a class=\"block h-full w-full\" href=\"https:\/\/www.businesstimes.com.sg\/international\/global\/china-digital-exports-surge-alibaba-tencent-lead-global-push?ref=article-see-also\" data-discover=\"true\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"relative z-10 h-full w-full object-cover\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/02\/520db5da1413740cdcd756e73ffd9d93c473b1860ddc740197324e7c191f033c.webp\" alt=\"ByteDance\u2019s TikTok is building a US$38 billion AI-related data centre in Brazil.\" width=\"2000\" height=\"1333\"\/><\/a><\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Yang added: \u201cThis partnership reflects our shared ambition to unlock new possibilities for economic exchange and to support secure, everyday digital-payment experiences in an increasingly connected world.\u201d <\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Separately on Friday, MariBank announced its own partnership with TenPay Global, and launched its own online remittance service to Weixin Pay users.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The digital bank is a subsidiary of tech giant Sea.<\/p>\n<p class=\"font-lucida text-xl font-medium italic leading-normal -tracking-5% text-gray-850\">Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.<\/p>\n","protected":false},"excerpt":{"rendered":"The bank is also looking to link its DBS PayLah! service to Weixin Pay to further cross-border payments&hellip;\n","protected":false},"author":2,"featured_media":296381,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[61,60,202,80],"class_list":{"0":"post-296380","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-ie","9":"tag-ireland","10":"tag-mobile","11":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/296380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=296380"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/296380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/296381"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=296380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=296380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=296380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}