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Jul 21, 2020 | News Releases

Geoswift joins forces with UnionPay International and Western Union to offer a reduced fee to Chinese students abroad

Geoswift, a leading cross-border payment technology company, in partnership with UnionPay International and Western Union Business Solutions, announced today that a reduced fee is now offered to Chinese students paying tuition through WU® GlobalPay for Students.

 GlobalPay for Students is provided by Western Union Business Solutions which enables universities from around the globe to collect student tuition payments with fast, easy and affordable payment options. The service was designed specifically for international students as an effective, stress-free platform to pay for their education. Chinese students who use the service can pay their tuition fees in their local currency, RMB, with the assurance that funds will arrive on time and in full, without any hidden fees. This also does not impact the annual personal quota of the equivalent of $50,000 USD for foreign exchange settlement and purchase set by the State Administration of Foreign Exchange (SAFE) of China.

With more than 20 million online merchants outside mainland China accepting UnionPay Online Payment, UnionPay offers customers the convenience and security of managing their funds internationally. This summer, Chinese students who have access to UnionPay Online Payment can enjoy a bonus, a reduced rate, when they choose to pay fees using their UnionPay debit cards on WU® GlobalPay for Students.

Jessica Ao, Chief Partnership Officer of Geoswift, said: “Currently many families are facing hardships as a result of the global pandemic outbreak. We hope the reduced fee will be of some assistance. Geoswift has partnered with UnionPay International and Western Union Business Solutions to help alleviate stress from students, allowing them to concentrate on their studies and well-being. Along with a reduced fee, together, we strive to provide an optimal solution that helps Chinese students studying overseas pay their tuition quickly and easily.”

“Chinese students who study abroad, as well as their families, are a customer group whom we attach great importance to,” said June Chen, General Manager of UnionPay International Americas. “And based on the UnionPay global acceptance network and service system, the UnionPay payment service system for these students is continuously improving. On one hand, we are making education payments a feature service of UnionPay cross-border online payments, providing solutions to the biggest pain point of tuition fee payments. On the other hand, we are expanding our acceptance network on and around campus, further enriching students’ payment options by promoting innovative products like QR code-based payment. We are committed to offering better payment services to Chinese students studying abroad.”

Skyler Webster, Director, Product Management, from Western Union Business Solutions, said: “Students studying abroad, especially young people living alone for the first time, need a simple-to-use way to pay for items billed by their educational institution, such as tuition and accommodation fees.  This solution enables education institutions to offer a best-in-class student payment experience to their students. We hope our service, which is the result of a long-term partnership with Geoswift and UnionPay International, will make life easier for educational institutions and their students.”

Please note the following conditions to receive the reduced rate:

  • Tuition payments must be made via GlobalPay for Students + PayTuitionNow + UnionPay Online Payment debit card.
  • Tuition payments must be made to the universities worldwide listed on GlobalPay for Students and PayTuitionNow.
  • The promotion starts today and runs until August 31st UnionPay International and Geoswift Limited reserves the right to adjust promotion duration.