Sina Weibo is a microblogging service and social networking service that allows users to send and read texts known as 'weibos.' It is called the Chinese version of Twitter.
Revolut is a financial services company that specializes in mobile banking, card payments, money remittance, and foreign exchange.Revolut Integrations
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It's easy to connect Sina Weibo + Revolut without coding knowledge. Start creating your own business flow.
In the last decade, an increasing number of Chinese people are using social media to communicate with each other. People use Facebook and Twitter as a way to express their thoughts or share news, but it is not widely used in China. Instead, Weibo has become a way for people to communicate with each other. Sina Weibo is a microblogging service similar to Twitter. It was created by SINA Corporation and launched on 14 August 2009. It’s a very popular platform for young people. In the last 10 years, Weibo has been used for people to share their ideas, thoughts or even news with others.
Revput is a digital banking alternative that allows users to open an account in seconds and pay anywhere in the world at the interbank exchange rate. The Revput card can be used in ATM machines and shops across Europe, making payments simple and quick. The best part is that there is no exchange fee, no hidden charges and no monthly fees. The Revput application is available on Android and iOS. Now, it has expanded its services to include cryptocurrencies such as Bitcoin, Litecoin and Ethereum. This move makes Revput one of the first companies to offer cryptocurrency wallets for its customers. As of now, Revput does not support specific Chinese currency, but there have been rumours that they will soon support the Chinese RMB (Renminbi.
Weibo is a mobile wallet and social network service in China. In 2017, WeChat Pay launched a service that allows users to add money to their accounts through Weibo’s Sina Wallet. Last year, Weibo also allowed users to top up their accounts with Alipay. To make it easier for users who have both WeChat Pay and Alipay linked to their bank accounts, Weibo also allows users to link Weibo to either WeChat Pay or Alipay. When it comes to the integration of Sina Weibo and Revput, people can use the Revput app to integrate their Weibo account with their bank account. This means that they can send and receive money from other users without exchanging any currency because both parties are using Revput as a payment method.
Revput does not charge commission fee when transferring money from overseas to China or vice versa. In addition, there is no foreign exchange fee when someone is sending money from China back overseas. The only fee taken by Revput is the standard 1% fee levied by Visa or MasterCard. On the other hand, exporting money from China can cost up to 20%, because the Chinese government imposes a steep tax when you exchange your Yuan into dplars. This fee is known as the “currency conversion fee” or “currency conversion spread”. When you use a debit card to pay for something in USD outside of China, the transaction can be processed by Visa/MasterCard/UnionPay credit card networks. However, when you use a Chinese-issued credit card outside of China, you can only use UnionPay network to make your purchase. UnionPay only covers China and a few countries in SE Asia; it does not cover any cards issued in North America or Europe. Therefore, when you make a purchase using your Chinese credit card outside of China, your purchase must go through two different payment networks. Visa/MasterCard/UnionPay credit card networks + UnionPay network. This extra step costs an extra 3% in exchange fees alone! Furthermore, if you are an expat living in China with a Chinese bank account, you have to pay a 0-5% commission fee every time you send money back overseas via your bank transfer. When using Revput, you don’t need to worry about any commissions or fees because your transactions go directly through Visa/MasterCard/UnionPay credit card networks without any middlemen! For example. if you want to exchange $100 USD into yuan using your Chinese bank account, you will likely pay around 2-3% commission fee in addition to the spread between buying and selling price at your bank plus another 0-5% commission fee from your bank every time you send money overseas using your bank transfer! Using Revput, you only need to pay 1% for transaction fee plus the spread between buying and selling price!
The process to integrate Sina Weibo and Revput may seem complicated and intimidating. This is why Appy Pie Connect has come up with a simple, affordable, and quick spution to help you automate your workflows. Click on the button below to begin.