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Geoswift partners with Bank of Shanghai to launch payment remittance services

Geoswift, a provider of cross-border payments between China and the rest of the world, announced its partnership with Bank of Shanghai to launch a new remittance service in 2017. This announcement was made at Money 20/20 Las Vegas today. This partnership will enable businesses and individuals globally to remit funds into China through a secure and efficient medium that is well recognized by China’s regulators, combining the network and market expertise of Geoswift and Bank of Shanghai.

This service allows continuous real-time remittance of funds from seven currencies USD, GBP, HKD, CAD, AUD, JPY and EUR to the local currency RMB for recipients in China. The service uses a fixed daily rate to minimize risks arising out of foreign exchange fluctuations, and is designed to provide ease of transaction and transparency for both the sender and receiver.

News Source:
http://www.theasianbanker.com/press-releases/geoswift-partners-with-bank-of-shanghai-to-launch-payment-remittance-services

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