Neema unlocks direct payment route to 1 billion Alipay wallets

Global banks can bypass China FX hurdles via Neema’s direct-to-Alipay wallet integration.

Cross-border payments platform Neema has partnered with digital wallet provider Alipay to allow financial institutions to send payments to Alipay users in China, according to a press statement.

Neema said the partnership allows its clients to route cross-border payments directly to Alipay wallet accounts, expanding payment reach in China for banks and financial service providers using its platform.

Cross-border transfers involving China can be complex and slow due to foreign exchange controls that apply to individuals and businesses, the company said.

The integration adds to Neema’s existing connections in the Chinese payments ecosystem, including its partnership with UnionPay, according to the statement.

Alipay’s digital wallet platform serves more than one billion consumers and more than 80 million merchants across China, the companies said.

Through the integration, financial institutions connected to Neema’s platform will be able to send funds to Alipay users for cross-border payments and disbursements.

Moshe Kimhi, CEO and co-founder of Neema, said the partnership expands the company’s fintech network and payment coverage for its clients.

“With Alipay joining our portfolio of global fintech collaborations, our clients can access wider coverage and improved delivery reliability for payments between China and the rest of the world,” Kimhi said in the release.