SHANGHAI, China, July 24, 2015 / Xinhua-AsiaNet — UnionPay International announced on July 23 that the number of overseas educational institutions, including high schools, colleges and universities accepting UnionPay cards for tuition payment has risen to more than 1,200. The service is available in countries and regions for studying abroad such as the US, Canada, Australia, England, New Zealand, Hong Kong and Taiwan and covers many prestigious universities.
According to Cai Jianbo, CEO of UnionPay International, students studying abroad and their families are important customers. UnionPay International is dedicated to creating an all-dimensional payment service system for overseas students. Featuring security and convenience, the system covers a series of services including tuition payment, daily withdrawal and card swiping, establishment of student grant and other relevant services.
Currently, the Chinese overseas students and their families may apply three major payment platforms to pay tuition via UnionPay card cross-border online payment. The platforms are peerTransfer that covers over 600 educational institutions, Western Union that covers nearly 300 educational institutions and the “Tuition and Incidental Fees Portal” of Bank of Taiwan that covers half of colleges and universities in Taiwan. Meanwhile, UnionPay card online payment can be used to pay tuition on the payment platform of early 10 major colleges and universities in Hong Kong and Macao as well as some language centers in Australia. The tuition can be paid via UnionPay card cross-border online payment regardless of bank outlets whose operation procedure is convenient. Generally, the payment is credited to the account within three working days. The tuition is deducted from corresponding UnionPay cards in RMB and the currency conversion fee accounting for 1%-2% of the transaction amount is exempted.
Apart from the online payment, students can use UnionPay cards to pay tuition and buy academic books at the POS terminals in hundreds of overseas schools. In Australia, the service is now available in more than 200 middle schools and universities. In particular, an increasing number of local education institutions such as universities, middle schools and private schools have introduced UnionPay cards payment, including student insurance payment.
UnionPay International also announced on the same day to launch special offers for overseas study tuition payment. From now on till September 30, cardholders could get Allianz insurance policies worth up to RMB 300,000 (limit of 3000 policies) by using UnionPay cards (card number starting with 62) to pay tuition online via (www.paytuitionnow.com).
SOURCE: UnionPay International