中新合力打造跨境支付互联互通生态

Core Insights - The 10th Singapore FinTech Festival is taking place from November 12 to 14, 2023, focusing on enhancing financial technology cooperation between China and Singapore [1] - Bank of China Singapore Branch has signed a strategic cooperation memorandum with Tencent's cross-border payment platform TenPay Global to improve cross-border payment services [1][2] Group 1: Strategic Cooperation - The partnership aims to create a cross-border payment system that integrates both online and offline scenarios, enhancing convenience and security for customers in China [1] - The collaboration will focus on various application scenarios including tourism, education, business, and e-commerce, providing a convenient payment solution for visitors to China [1][2] Group 2: Customer Experience Enhancement - The joint initiative will significantly improve the consumption experience for foreign tourists in China by addressing cross-border payment challenges [1] - Through the local acquiring network of Bank of China Singapore Branch, Chinese travelers can use WeChat Pay at Singapore merchants, ensuring a seamless payment experience [1] Group 3: Future Collaboration Goals - The MOU outlines plans for ongoing collaboration in areas such as technology integration, product development, risk control, compliance cooperation, and customer education [2] - The long-term goal is to optimize cross-border payment experiences while exploring applications in remittances, cross-border settlements, and payment innovations for overseas Chinese communities [2]