Western Union partners with ChinaPay to enable universities to accept fees in Chinese RMB

Western Union Business Solutions, a unit of The Western Union Company, is partnering with ChinaPay to offer an integrated, co-branded platform that will enable Chinese students studying abroad to pay their fees from their home country and in their local currency, the Chinese Renminbi (view press release).

ChinaPay is the online and mobile payments subsidiary of UnionPay, the bankcard association in China. According to its Vice General Manager, Cathy Wang: “International education is increasingly important for many in China. Western Union’s work to improve the speed and efficiency of cross-border payments for hundreds of universities and higher education institutions around the world make them an ideal partner that will give students and their families a reliable, convenient payment solution.”

The partnership will combine ChinaPay’s online and mobile payment portals with Western Union’s integrated foreign exchange and payment platforms and will allow payers to have funds deducted from their UnionPay cards in real time.

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