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Tencent Invests In Easy Transfer To Amp Up Cross-Border Payments Ambition
01/13/22, 12:45 PM
Tencent has invested in Easy Transfer, a startup that aims to make tuition payments less stressful for hundreds of thousands of overseas Chinese students.
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With Easy Transfer, users fill out a straightforward form online and the startup takes care of the rest for a fee of up to 200 yuan ($31). The startup served 120,000 students in the past year and processed over $2 billion in transactions, according to Gao. Overseas expansion has proven challenging for Tencent, and the firm has largely relied on strategic investments to extend its influence abroad.
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