Western Union launches GlobalPay for Students
The new product aims to make international payments easier for education institutions and students.
Western Union Business Solutions has launched its new and improved GlobalPay for Students product, which enables education institutions to more easily facilitate, refund and track payments from international students.
Each year, education is over a billion dollar export for the United Kingdom, and the international student population is projected to hit 8 million per year globally by 2025.
Western Union’s (WU) product is a response to this growing demand and is designed to help both universities and colleges around the world simplify the process of international payments.
GlobalPay for Students offers real-time payment tracking capabilities as well as a wide range of online payment options including Geoswift (UnionPay, Tenpay and Alipay), POLIpayments, India Net Banking, Trustly and SOFORT.
The new platform was developed with the help of international students to enhance the user experience. Users can now view their payment history at a glance, track all payments and enjoy a fully-automated refund process.
The platform was announced by Western Union this week at the Money 2020 Conference in Copenhagen. Speaking at the conference, chief payments officer at Western Union Kerry Agiasotis spoke of the company’s shift towards becoming a fintech company.
“Staying focused on the needs of both our Education Institution customers and their international students, the product has been revamped to take advantage of substantial investments that Western Union has made in new technologies,” said Agiasotis.
“The upgrade results in significant efficiencies for our Education Institution customers in more rapidly and cost-effectively processing international student receivables, whilst at the same time providing a modern, multi-channel user experience that is demanded by today’s digital consumers.”
Need to send money overseas? Check out our comprehensive guide to international money transfers first.
