Xpress Money expands operations in China with Geoswift

October 29th, 2019: Xpress Money, a Finablr company and one of the most dependable money transfer brands in the world, has partnered with Geoswift, an innovative payment technology company connecting China and the rest of the world. This collaboration will enable customers across the globe to send money to 14 banks in China directly to a receiver’s UnionPay card account. Recipients will enjoy real-time cross-border bank transfers sent by their loved ones.

Real-time money transfers to UnionPay card account holders of these 14 banks

  • ICBC
  • Bank of China
  • Bank of Communications
  • Bank of Shanghai
  • China Construction Bank
  • China Everbright Bank
  • Harbin Bank
  • Linshang Bank
  • Hunan Rural Bank
  • Qinghai Rural Bank
  • Guangdong Rural Bank
  • Henan Rural Bank
  • Huxia Bank     
  • Fujian Rural Credit Cooperative

This partnership is aligned to Xpress Money’s business expansion plan in key remittance-receiving geographies, namely Asia, Africa and LATAM. As Asia is home to the top 2 receivers of inward remittances in 2018 “ India (US$79billion) & China (US$67billion)*, it is imperative to drive growth through such strategic business partnerships.

Speaking about this latest partnership, Xpress Money CEO, Sudhesh Giriyan said, “It is the expertise, our robust network, world-class technology and compliance systems, and ability to process secure cross-border money transfers that make us a partner of choice for companies across different geographies. The knowhow and commitment that Geoswift brings to the fore is a testimony to their growth in the payments technology space. I am confident about the success of this partnership by virtue of the combined proficiency that both the organisations have to offer.

“The payments ecosystem is always ever-changing, in particular for cross-border money transfers in and out of China. It can somehow be challenging due to complex regulatory requirements and

differences in global and local compliance standards. With our strategic partnership with Xpress Money, we are confident that both our combined capabilities will enhance the cross-border money transfer experience for our end-users. said Raymond Qu, CEO and founder of Geoswift.


About ‘Xpress Money’:

Incorporated in 1999, 'Xpress Money' is a global money transfer brand with a thriving presence in more than 170 countries across the globe through partnerships that have a network of over 200,000 locations. It is one of the most dependable and renowned international money transfer brands across the globe. 'Xpress Money' provides customers convenient, simple and secure ways to transfer money across geographies. Its widespread network is strengthened by collaborations with renowned organizations that include international money transfer operators (IMTOs), banking as well as non-banking institutions, retail chains, online remittance players and fintech companies. Xpress Money's state of the art compliance and security policies ensure customers a secure and hassle-free money transfer process.

Xpress Money is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.

For more information, follow us on Facebook: www.facebook.com/XpressMoney, Twitter: @Xpress_Money LinkedIn: https://www.linkedin.com/company/xpress-money-services-ltd/ or visit www.xpressmoney.com

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