SHANGHAI, July 1, 2016 /PRNewswire/ -- UnionPay's payment service for students who study abroad is extending from tuition payment to all aspects of daily life. On July 1st, UnionPay International announced that now over 2,000 educational institutions overseas accept UnionPay cards for tuition payment, covering well-known schools in popular destinations, including US, Canada, Australia, UK, New Zealand and Singapore.
According to public data, the number of Chinese students who study abroad has exceeded 500,000 in 2015, with a year-on-year growth of about 14%. China is now the largest source country of international students for the US, the UK, Canada, and Australia. In this context, UnionPay International keeps improving its payment service for these students.
Convenient and secure online cross-border tuition payment
It is convenient to pay tuition via UnionPay cards online. Remittance can be completed within 3 working days. UnionPay online payment adopts multiple security and risk management measures to guarantee the security of cross-border online payment.
Students and their parents can log onto several tuition payment platforms to pay tuition via UnionPay debit and credit cards. For example, peerTransfer covers over 700 and Western Union covers over 400 educational institutions in North America, Europe, and Australia. The tuition payment platforms of five mainstream banks in Taiwan cover over 70% of the local colleges and universities.
Through cooperation with third-party institutions like TMS and TouchNet, UnionPay International enabled over 700 institutions' official payment webpages to accept UnionPay credit cards.
Payment services cover all aspects of students' life abroad
UnionPay's payment service now covers all aspects of students' daily life abroad. In popular destinations, it is convenient to use UnionPay cards. In the US, for instance, almost all ATMs accept UnionPay cards for cash withdrawal and 80% of merchants accept UnionPay credit cards for signature payment. These merchants include major department stores, supermarkets and restaurants.
UnionPay's payment service also covers multiple educational payment scenarios: to pay tuition at POS terminals on campus, to pay for textbooks and accommodation. Many campus bookstores, student service centers, student dormitories and libraries also accept UnionPay cards.
Using UnionPay cards abroad has many advantages: Students do not need to carry large amount of cash, nor do they need to purchase or remit foreign currencies. Students' parents back home can know about their children's spending abroad. Students can apply for UnionPay cards in over 40 countries and regions, and enjoy payment convenience and exclusive privileges offered by UnionPay in 160 countries and regions.
For more information: http://www.unionpayintl.com/
SOURCE UnionPay International