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UnionPay International and Solidarnost Bank Co-Launch Money Express service to Simplify Cross-Border Transfers

2021-10-20 18:44 569

MOSCOW, Oct. 20, 2021 /PRNewswire/ -- UnionPay International ("UPI"), a leading global payment services provider, is pleased to announce the launch of UnionPay Money Express service on October 1, 2021 with Solidarnost Bank. Bank customers can make quick cross-border transfers from their account or card to China and CIS countries without visiting a Solidarnost branch.

Customers with a Solidarnost Bank account or card can transfer funds across the border no matter where they are located, by simply using the bank's "Solidarnost Online" mobile application or getting access to the "Internet Banking" system at the Bank's branches.

Money Express is UPI's cross-border remittance service that has been launched in 45 countries and regions including the US, Japan, Singapore, Australia, the UK, and Russia. Different from traditional cross-border telegraphic transfers, Money Express is able to settle a favorable exchange rate in advance and deposit the remittance directly into the remittee's UnionPay account in real time in most cases. To simplify the process for users, only the recipient's name and UnionPay card number are required to complete the transfer.

Xia Yu, head of UnionPay International Russia Branch said, "Over the past year, the volume of money transfers via our Money Express service has increased. We are glad that more and more Russian banks have connected the Money Express service, offering local clients a convenient, fast and secure way to transfer funds to UnionPay cards".

Solidarnost Bank initiated a promotion enabling clients to make Money Express transfers to the Republic of Uzbekistan without paying bank commission before December 31, 2021. Please read more about the rules of the promotion here.

About Solidarnost Bank
Solidarnost Bank ranks high among the largest Russian financial institutions with a Rating B +(RU) and forecast as Stable. The bank is among the most reliable in Russia, winning awards for achievements in the field of economics and finance at regional and federal levels.

About UnionPay International
UnionPay is an international payment system founded in 2002. UnionPay International is focused on the growth and support of UnionPay's global business. Currently, UnionPay's payment acceptance network has expanded to 180 countries and regions, and 70 countries and regions have issued UnionPay cards.

http://www.unionpayintl.com/ru/

Source: UnionPay International
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