Western Union has announced a partnership with TRUE North, a multi-user, web-based system. Its goal is to manage the information tracking, reporting and collaborative needs to international education programmes.
Furthermore, it will enable students to pay tuition and expenses using a simplified payment process. It will help funds arrive on-time and in-full without hidden charges.
The partnership will leverage Western Union’s WU GlobalPay for Student to provide the ability to review payment options in advance. In addition, there is a price comparison tool and users can lock-in exchange rates for up to 72 hours. Users can pay with Visa, Mastercard or Unionpay and educational institutions will not garner merchant fees.
The GlobalPay for Students platform lets users tack payment status through the online portal, mobile messages and email. Payments are usually delivered to the school within 24 hours.
“We are proud to collaborate with TRUE North to integrate our payments solution into their platform,” said Roy Farah, vice president of sales for Canada, Western Union Business Solutions. “By simplifying payment tracking and reconciliation, TRUE North’s education institutions can free up valuable financial and administration resources.”
“We are excited to integrate the Western Union GlobalPay for Students payment platform,” said Jason Schaad, Co-Founder of TRUE North. “The integration will save valuable time for international agents, parents and students, as well as school boards across Canada.”
Western Union teams up with Visa
Western Union entered into a strategic agreement with Visa in June of this year to facilitate quicker and transparent movement of money across the world.
As per the agreement, Western Union will leverage Visa’s real-time push payment platform Visa Direct to offer customers an expedited remittance service onto cards.
Cross border payments through wire transfers or bank accounts take days to process due to outdated, expensive and multi-step methods.
Almost $80trn US dollars’ worth of cash is transferred through traditional means such as bank accounts and transfers, according to figures released by Visa.