CO-WESTERN-UNION-COMPANY
Western Union , a leader in global cross-border, cross-currency money movement and payments, and Du Xiaoman Financial (formerly fintech Baidu Finance) and its network of bank partners, today launched Western Union® international money transfers to be paid out in real-time into even more bank accounts in China, with coverage now extending to a majority of bank account holders across China.
Account payout of any Western Union international money transfer can be directed via the Du Xiaoman Financial mobile app. More than 150 million Du Xiaoman Financial mobile app users can now simply route any money transfer received from across the world into their bank accounts, and receive funds in real-time, with 24/7 convenience, via the app. Global senders may use Western Union’s digital services in 75 countries plus territories, or the walk-in Agent network across more than 200 countries and territories to send an international transfer.
Expansion of the account payout in China further advances Western Union’s unique ability to partner with a growing base of national and international tech leaders by leveraging its core assets – including global settlement capabilities, its vast network, compliance and technology systems — to enable international cross-border transfers with customer-facing innovation.
“Western Union’s quest to build the world’s best money-moving and payments network is made possible with unique collaborations such as the integration with Du Xiaoman Financial’s app and its network of bank partners,” said Jean Claude Farah, President, Western Union Global Network.
“We are advancing our goal to comprehensively serve consumers money movement and payment needs,” Farah said. “We are enabling cash-in to cash-out or account payout; from one bank account to another; from a debit card to a digital wallet. We are making this happen by working with national and international partners across borders and building the world’s ultimate agnostic network for cross-border money movement and payments via a combination of physical and digital touchpoints.”
Du Xiaoman Financial is a major provider of multiple online services. Their platform includes online credit service, mobile wallet, online payment and online wealth management services
“We are excited to expand our growing portfolio of online services to enable our customers to direct all their international money transfers quickly into their bank accounts in China, with our network of bank partners,” said Wan Tao, General Manager, Du Xiaoman Financial.
“Our collaboration with Western Union drives our strategic vision of being a global leader enabling local and global connectivity backed by our innovative technology. Money movement is increasingly happening on digital channels and Western Union and Du Xiaoman Financial with its network of bank partners are facilitating this trend with an easy to navigate “in-app” experience,” said Wan Tao.
China was ranked as the worlds’ second-largest remittance receiver country in 2018, according to the World Bank .
CUSTOMER GUIDANCE
Registered Du Xiaoman financial mobile app users need to input their preferred bank account details in order to receive money in real-time into their account. Customers can receive up to USD7,000 per transaction.
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of September 30, 2019, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com , our fastest growing channel in 2018, is available in 75 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com .
About Du Xiaoman Financial
Du Xiaoman Financial, formerly named Baidu Finance, is a finTech company. By the end of April 2019, it completed the financing, unbundling, and started a rapid expansion in a more flexible way to accommodate itself in the fintech industry. Later it launched a new brand – Du Xiaoman Financial, and ‘Provide reliable financial service through the power of technology’ became its mission since then. The company and its affiliates dedicated its efforts in the business of online payment services and online wealth management platform, and online insurance service. Now they own third-party payment license, internet micro loan license and insurance broker license.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200110005293/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Azafaros to Present at BIO International Convention 2025 Following Successful €132M Series B Financing9.6.2025 07:00:00 CEST | Press release
Azafaros, a clinical-stage biotechnology company developing novel therapies for rare lysosomal storage disorders (LSDs), today announced that it will present at the 2025 BIO International Convention taking place in Boston, USA, from 16-19 June. The company’s presentation is scheduled for Monday, June 16 at 16:45 ET in Room 153B. The presentation will highlight Azafaros’ progress in developing nizubaglustat, its lead investigational compound for the treatment of rare lysosomal storage disorders with neurological involvement, including GM1 and GM2 gangliosidoses and Niemann-Pick disease type C (NPC). This announcement follows Azafaros’ recently completed and oversubscribed €132 million Series B financing round, which will support advancing nizubaglustat into pivotal clinical development. The company is on track to initiate two Phase 3 trials in GM1/GM2 gangliosidoses and NPC in 2025. Earlier this year, Azafaros reported positive topline results from its ongoing Phase 2 study evaluating n
A-CAP Announces Successful Divestiture of Standard de Liège SA and Immobilière du Standard de Liège SRL6.6.2025 22:32:00 CEST | Press release
Successful Transaction Marks Another Milestone in A-CAP’s Soccer Club Portfolio Strategy Advantage Capital Holdings, LLC (“A-CAP” or “The Company”), a New York-based insurance and financial services company with over $12 billion in assets, today announced the successful divestiture of Standard de Liège SA (“Standard Liège” or the “Club”), one of Belgium's most historic soccer clubs, and Immobilière du Standard de Liège SRL, the corporate entity that owns the Club's stadium, Maurice Dufrasne Stadium, to a consortium of buyers led by Standard Liège Chief Executive Officer Giacomo Angelini. This transaction marks the end of 777 Partners’ legacy involvement with the Club and sets the stage for the Club’s future growth and success, both on and off the field. Benefits of the transaction include: Increased stability across the Club’s shareholder base, which clears the path for future investments, Operational clarity, establishing a unified direction that will allow both players and management
Populous Acquires Fentress Architects, Expanding Global Aviation Portfolio6.6.2025 20:00:00 CEST | Press release
Populous, the world-renowned design firm specializing in sport and entertainment venues, today announced the acquisition of Denver-based Fentress Architects, a global leader in iconic aviation projects and prominent public buildings, including convention centers, museums and government facilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250606849000/en/ Los Angeles International Airport. Designed by Fentress Architects. This strategic acquisition unites two of the most respected names in architecture, combining Populous’ unparalleled expertise in designing memorable experiences with Fentress’ award-winning portfolio of aviation, civic and cultural landmarks. The acquisition significantly broadens the scope and scale of services that Populous can offer clients across the globe. Bruce Miller, Populous Global Chair and CEO, commented: “We are committed to expanding the breadth of our practice. Fentress Architects has lon
Vertex Presents New Data on Benefits of ALYFTREK® and Importance of Achieving Lower Sweat Chloride Levels at the European Cystic Fibrosis Conference6.6.2025 18:00:00 CEST | Press release
- Oral presentation on outcomes following treatment with CFTR modulators show that improvements in CFTR function, as measured by lower sweat chloride, correlate with better outcomes for people with cystic fibrosis - - Oral presentation on new post hoc data from randomized, controlled and open-label trials suggest improved quality of life results with ALYFTREK compared to TRIKAFTA® – Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced data across multiple studies demonstrating positive clinical and quality of life benefits of treatment with CFTR modulators and, in particular, ALYFTREK® (vanzacaftor/tezacaftor/deutivacaftor), which is approved in the United States and United Kingdom and is currently under review with health authorities in the EU, Canada, Australia, New Zealand and Switzerland. These data were presented at this year’s European Cystic Fibrosis Society’s (ECFS) 48th European Cystic Fibrosis Conference held June 4-7, 2025, in Milan, Italy. During the conferenc
Andersen Consulting tilføjer dimension med David and Golyat6.6.2025 16:33:00 CEST | Pressemeddelelse
Andersen Consulting udbygger sin globale konsulentkapacitet gennem en samarbejdsaftale med David and Golyat, en filippinsk konsulentvirksomhed inden for digital strategi. Med et stærkt fokus på business intelligence, kundeindsigt og digital first-eksekvering arbejder David and Golyat med kunder på tværs af flere sektorer – herunder regeringer, udviklingsorganisationer og private virksomheder – for at skabe langsigtet værdi gennem datainformerede beslutninger. Miko David, administrerende partner i David and Golyat, siger: "Vi ser frem til samarbejdet med Andersen Consulting, da det er en milepæl i vores vækstforløb. Ved at kombinere vores ekspertise inden for digital strategi og Andersen Consultings globale platform er vi i stand til at levere endnu større værdi til kunder, der navigerer på komplekse markeder." "Dette samarbejde betyder, at vi kan tilføre en ekstra dimension til vores globale konsulentplatform," siger Mark L. Vorsatz, global bestyrelsesformand og administrerende direktø
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom