Wirecard has partnered with EasyTransfer to enable seamless mobile payments for digital-native Chinese students.
The two companies are launching a new mobile payment and loyalty app designed for students studying outside China.
In its first year, approximately $3.8bn in tuition payments was transferred via EasyTransfer. Additionally, the new solution is expected to process over $1bn in payment volume in the next three years.
Georg Von Waldenfels, EVP Group Business Development, Wirecard, said: “Ease of use is imperative for EasyTransfer. Its success is built upon a highly consumer-centric approach and active engagement with its users.
“The future of payment globally is simple, intelligent, and mobile. EasyTransfer agrees with this vision. Thanks to EasyTransfer and Wirecard, international Chinese students can not only manage their personal finances securely and comprehensively in their host country but they can do so in a manner already familiar to them, garnering assurance and peace-of-mind.”
EasyTransfer was founded by a group of former international students who wanted to help simplify tuition payments for students worldwide.
Through the collaboration, students can shop online and offline via Wirecard issued fully digital payment products. Furthermore, students can pay for meal plans, receive targeted partner merchant offers, make peer-to-peer transactions and manage expenses through the EasyTransfer app.
Yutong Gao, President of EasyTransfer, said: “It’s our mission to set the standard by which all other companies are compared. We want to become the number one financial service provider for the more than 1,800,000 Chinese students that now study abroad.
“We want to achieve this through exceptional customer service and a revolutionary user experience. Wirecard’s support and expertise in international payments is imperative to us in achieving that goal.”
Wirecard has customised its mobile payment platform specifically for EasyTransfer. It will initially enable EasyTransfer’s first phase roll-out into the UK, while later on expanding into markets like Australia, North America and other Chinese student destinations.