HONG KONG, March 8, 2016 /PRNewswire/ -- Geoswift, a leading provider of cross-border payments between China and the rest of the world, and Western Union Business Solutions (a business unit of The Western Union Company) have announced the inclusion of Tenpay, a leading third-party online payment platform in China, as one of the payment channels in the proprietary online tuition payment portal www.paytuitionnow.com.
The portal www.paytuitionnow.com provides tuition payment options for overseas Chinese students and families to approximately 400 universities and higher education institutions across 9 countries in Asia, Europe and North America. From abroad, students have the option to make payments through bank transfer, UnionPay card or via their Tenpay account in the Chinese yuan (CNY).
"We are delighted to be working with Tenpay to help support Chinese students who are studying abroad," said Raymond Qu, founder and CEO, Geoswift. "It is our commitment to provide a safe and convenient tuition payment service for overseas students to help them ease the burden when settling tuition payments amidst focusing on academic matters."
Tenpay, a leading third-party online payment platform in China, offers secure and convenient online payment services to users, by connecting them to a range of payment options, from travel and shopping to credit card and utility bill payments.
According to UNESCO Institute of Statistics (UIS), China is the top country of origin for overseas students, with 712,157 tertiary-level students studying abroad. The US, Japan, and Canada are some of the leading destinations for Chinese students going abroad.
Geoswift is an innovative payment technology company connecting China and the rest of the world. The company is comprised by the world's leading payment technology experts and by combining this deep understanding of the industry, technology, and global and China monetary policy, Geoswift provides clients with customized one-stop cross-border payment solutions to and from China. Geoswift is relied upon by the world's leading e-commerce companies, most prestigious universities and the largest brands in the travel industry to grow their businesses.
It is the #5 non-bank acquirer of UnionPay International in North America, a co-issuer of MasterCard, and a long term partner of many other leading financial institutions. It also maintains 24 currency exchange outlets throughout China. Geoswift is headquartered in Hong Kong with operating offices in Shanghai, London, Vancouver, Seattle and San Francisco for strategic and regulatory functions.
About Western Union Business Solutions
Western Union Business Solutions enables companies of all sizes to send and receive international payments and manage global cash flow, creating unique solutions tailored to suit their individual needs. It is a business unit of The Western Union Company (NYSE: WU), a leading nonbank provider of cross border payments, which offers Business Solutions services in over 30 countries. Clients are supported by a network of trading offices, strategic banking relationships and a global clearing network and can send cross-border foreign exchange payments in more than 130 currencies.
Tenpay is a leading third-party online payment platform in China. Tenpay offers secure and convenient online payment services to users, by connecting them to a range of payment options, from travel and shopping to credit card and utility bill payments.