Geoswift, Western Union Business Solutions and UnionPay International launched a promotion wherein UnionPay will pay for medical insurance coverage for eligible students that process tuition payments through their payment network.
The National Bureau of Statistics of China reported that roughly 460,000 Chinese students studied abroad in 2014. Open Doors data from the Institute of International Education (IIE) estimates 60 percent of those students attended universities in the United States. As these numbers rise, so does the number of Chinese students without health care benefits while in the country.
China UnionPay cardholders who successfully complete the online tuition payment via paytuitionnow.com any time between now and September 30, 2015, are entitled to a free insurance package. The offer is limited to the first 3,000 eligible cardholders and is on a first-come, first-serve basis. After processing, fulfillment will be issued to qualified students by insurance provider Allianz within 60 days after promotion period.
Geoswift is an innovative payment technology company connecting China and the rest of the world. The company is comprised by the world’s leading payment technology experts and by combining this deep understanding of the industry, technology, and global and China monetary policy, Geoswift provides clients with customized one-stop cross-border payment solutions to and from China. Geoswift is relied upon by the world’s leading e-commerce companies, most prestigious universities and the largest brands in the travel industry to grow their businesses. It is the #5 non-bank acquirer of UnionPay International in North America, a co-issuer of MasterCard, and a long term partner of many other leading financial institutions. It also maintains 24 currency exchange outlets throughout China. Geoswift is headquartered in Hong Kong with operating offices in Shanghai, London, Vancouver, Seattle and San Francisco for strategic and regulatory functions.
Western Union Business Solutions is a business unit of The Western Union Company and offers Business Solutions services in over 30 countries. Clients are supported by a network of trading offices, strategic banking relationships and a global clearing network and can send cross-border foreign exchange payments in more than 130 currencies.
For data, background and forecasts on Geoswift: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).