Western Union expands bank account payout in China Via Du Xiaoman Financial

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, has 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.