Shanghai, March 3, 2026 — SUNRATE, the global payment and treasury management platform, today announced the official completion of the renaming of its China-licensed entity to SUNRATE Pay Co., Ltd., following approval from the Zhejiang Branch of the People's Bank of China.
The approval was published in the “Public Notice on Approval of Major Changes for Non-Bank Payment Institutions,” confirming the change of company name from Transfar Pay Co., Ltd. to SUNRATE Pay Co., Ltd.
The completion of the name change marks a significant milestone in SUNRATE’s continued efforts to deepen its presence in the China market and further strengthen its compliance foundation. Since obtaining China’s Payment Business License in August 2025, the company has continuously integrated resources, reinforced localised operations, and advanced its China business into a new stage of systematic development.
Going forward, SUNRATE Pay will serve as the core operating platform through which SUNRATE supports Chinese enterprises. It will focus on facilitating seamless two-way cross-border fund flows — enabling businesses to both “bring in” international capital and “go global” efficiently and compliantly.
Leveraging its compliant service network across key markets including Singapore, Hong Kong SAR, Indonesia, Malaysia, and the United Kingdom, the establishment of SUNRATE Pay further enhances SUNRATE’s strategic footprint across core Asia-Pacific markets.
As a technology-driven global payment and treasury management platform, SUNRATE remains committed to upholding the highest standards of compliance and risk management. Through continuous investment in technology and robust governance frameworks, SUNRATE aims to build a secure financial foundation that supports the digitalisation of global trade.
Acquisition Overview
In 2025, SUNRATE secured a payment business licence in China following its successful acquisition of a 100% stake in Transfar Pay, a unit of Shenzhen-listed Transfar Group. The RMB 315 million (USD 43.8 million) acquisition has received approval from relevant Chinese regulatory authorities. This transaction had been previously announced by the Transfer Group in an exchange filing dated April 1, 2025.
The transaction was announced by the Transfer Group in an exchange filing dated April 1, 2025, and the registered capital of the payment entity was increased to RMB 200 million in the same month. Following regulatory approvals, the equity change was completed on June 26, 2025, and publicly disclosed by the People’s Bank of China on August 15, 2025.
About SUNRATE
SUNRATE is a global payment and treasury management platform for businesses worldwide. Founded in 2016, SUNRATE has been recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan. SUNRATE is also the principal member of Mastercard, Visa, and UPI. To learn more about SUNRATE, visit https://www.sunrate.com/.
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