Western Union Unveils Major Upgrade of Its Digital Payments Platform for International College Students
June 27 2017 - 5:00AM
Business Wire
Fintech innovation offers universities a
game-changing solution in reconciliation, improved student
experience
The Western Union Company (NYSE: WU), a leader in global
payments services, today announces the launch of its enhanced WU®
GlobalPay for Students product, which enables academic institutions
to more efficiently reconcile, refund and track payments from
international students. The platform is designed to help
universities and colleges around the world simplify the
reconciliation of incoming international payments, which can be a
complex and time-consuming process.
Western Union made the announcement at Money20/20 in Copenhagen
where three of its leading executives are speaking this week on
WU’s role as a participant and enabler of the fintech movement
transforming financial services and how it continues to drive
innovation in the international payments digital world.
Speaking at the Money20/20 conference in Copenhagen, Kerry
Agiasotis, Chief Payments Officer, Western Union, said:“This
release of WU GlobalPay for Students is a real testament of WU’s
capabilities and shifting orientation as a fintech organisation.
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 WU has made
in new technologies.
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.”
Designed with an intuitive mobile-first user interface and
real-time payment tracking capabilities, GlobalPay for Students was
developed to better meet the needs of international students and to
help improve the overall payer experience. In addition to online
bank transfer and credit card payments, the enhanced platform
offers users a wide range of online payment options in over 30
countries, including Geoswift (Unionpay, Tenpay & AliPay),
POLIpayments, India Net Banking, Trustly and SOFORT.
Other updates include a new reporting dashboard so clients can
view payment activity at-a-glance, a fully-automated refund process
that will help streamline processes for clients and payment
tracking that gives payers complete visibility on the status of
their payment.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
March 31, 2017, the Western Union, Vigo and Orlandi Valuta branded
services were offered through a combined network of over 550,000
agent locations in 200 countries and territories and over 150,000
ATMs and kiosks, and included the capability to send money to
billions of accounts. In 2016, The Western Union Company completed
268 million consumer-to-consumer transactions worldwide, moving $80
billion of principal between consumers, and 523 million business
payments. For more information, visit www.westernunion.com.
WU-G
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Western UnionLiesl SmithPhone: +44 (0)208 563 6347Mobile:
+44 (0) 7710
185864Liesl.smith@westernunion.comorFleishmanHillard
FishburnLudo Baynham-HerdPhone: +44 (0)208 618 2897Mobile: +44
(0)77523 120 702ludo.baynham-herd@fhflondon.co.uk
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