Toronto; New Jersey City: PayMyTuition, a leading provider of technology-driven global payment processing solutions for international tuition payments, announced today that it has added China’s UnionPay, the largest card issuer in the world as a payment option for Chinese Students.
According to a late 2018 study from INSIDE HIGHER ED, 33.2% of international students in the US are Chinese and 51.1% are either from China or India. Valued at more than US$500 billion, the growth volume of e-commerce transactions in China is expected to surpass that of the US this year. UnionPay will allow Chinese students to make high quality, cost-effective and secure cross-border payments using local currencies to universities and colleges around the world. Adding UnionPay as a payment method for payments to tuition costs, housing costs and other educational costs will open more doors for existing Chinese students, and to future Chinese students looking to study abroad.
“We're delighted to be able to offer UnionPay in providing high quality, cost-effective and secure cross-border payment services to our growing list of international tuition payment options," said Arif Harji, Chief Market Strategist at MTFX Group. "We are not only providing our merchants with flexible payment solutions but accessibility to a much larger consumer market with a significant level of disposable income. For Chinese students making cross-border payments, UnionPay is a preferred and trusted brand. We’re pleased to offer UnionPay to our list of growing payment options.”
PayMyTuition is part of the MTFX Group of Companies, a foreign exchange and global payments solution provider with a track record of 23+ years, facilitating payments for over 8,000 corporate and institutional clients across North America. Last year MTFX Group processed over 10 billion in currency exchange across 220+ countries in over 120 different currencies. MTFX has built its reputation on amazing people and great technology. Using a blend of “high-tech” and “high-touch” solutions, MTFX has grown to become a leader in online foreign exchange and global payment services across North America. In addition to offering incredibly competitive currency exchange rates, MTFX’s “high-touch” 24/7 multilingual customer support ensures that every transaction not only meets but exceeds the level of service our customers expect from us. MTFX is headquartered in Toronto, Canada with its US headquarters in Jersey City, NJ. For more information visit www.paymytuition.com.