As a July 1st, China UnionPay cards are now accepted at more than 2,000 well-known educational institutions outside China including the US, Canada, Australia, the UK, New Zealand and Singapore.
According to public data, the number of Chinese students studying abroad has exceeded 500,000 for the first time in 2015, with a year-on-year growth of about 14%.
China is now the largest source country of international students for the US, the UK, Canada, Australia and other popular destinations. The Chinese students who study abroad are younger and from common families, and the majors they choose are more diversified. In this context, UnionPay International keeps improving its payment service portfolio for students who study abroad so as to meet the students’ and their families’ demand for secure and convenient payment services.
It is convenient to pay tuition via UnionPay cards online. The remittance can be completed within 3 working days and is not limited by the locations of outlets. The fees are deducted in RMB without currency conversion fees. UnionPay online payment adopts multiple security assurances and risk management measures to guarantee the security of cross-border online payment.
Students and their parents can log onto several tuition payment platforms to pay tuition via UnionPay debit cards and credit cards. For example, peerTransfer covers over 700 educational institutions and Western Union covers over 400 educational institutions in North America, Europe, and Australia. In addition, the five tuition payment platforms of Bank of Taiwan, Taiwan Cooperative Bank, CTBC Bank, Yuanta Bank and Chang Hwa Bank accept UnionPay cards too, covering over 70% of the local colleges and universities.
Meanwhile, some institutions’ official payment webpage also accept UnionPay cards. Through cooperation with the third-party institutions like TMS and TouchNet, UnionPay International enabled over 700 educational institutions to accept UnionPay credit cards. The Language School of University of New South Wales in Australia and University of Auckland in New Zealand also accept UnionPay cards for online tuition payment.
Education and daily expenses are the students’ most significant spending. UnionPay’s payment service for students who study abroad now covers all aspects of daily life. In the popular destinations like US, Australia, and Hong Kong, it is convenient to use UnionPay cards at ATMs and merchants. In the US, for instance, almost all ATMs accept UnionPay cards for cash withdrawal and 80% of merchants accept UnionPay credit cards for signature payment. These merchants include major department stores, supermarkets and restaurants.
Besides online tuition payment, UnionPay’s payment service also covers other types of educational spending: First, UnionPay cards can be used to pay tuition at POS terminals on campus, including about 80 institutions in Singapore such as Nanyang Technological University Singapore, and over 70 colleges and universities, private middle and primary schools and training schools in the UK, France, Italy, Spain and other European countries. Second, UnionPay cards can be used to pay various educational expenses. For instance, over 200 institutions in Australia accept UnionPay cards to pay for textbooks and accommodation. Six well-known universities in Hong Kong accept UnionPay cards to pay for seminars and examinations. Third, many campus bookstores, student service centers, student dormitories and libraries accept UnionPay cards, including the campus bookstores of the over 20 overseas Universities with the largest number of Chinese students such as Columbia University and a group of colleges and universities in Europe.
Using UnionPay cards abroad has many advantages: Students do not need to carry large amount of cash, nor do they need to purchase and remit foreign currencies. They can also deposit money into and use the money of their accounts at any time. Students’ parents in China can know about their children’s spending abroad in time. Moreover, students can apply for UnionPay cards in over 40 countries and regions, and enjoy payment convenience and exclusive privileges offered by UnionPay in 160 countries and regions.
Now, students who use UnionPay cards when studying abroad can enjoy multiple exclusive privileges:
First, from Jul. 1, 2016 to Sep. 30, 2016, students can get Groundlink pick-up service worth $100 once paying $4,000 or more (about 25,000 RMB) via domestically-issued UnionPay cards via https://paytuitionnow.com.
Second, from Jul. 1, 2016 to Aug. 31, 2016, students can get a cash reward worth 100 AUD and a lottery draw opportunity once paying 10,000 AUD or more at Aoji Education’s offices in Sidney, Melbourne and Adelaide.
UnionPay’s exclusive privileges for students who study abroad include:
1.Exclusive privileges for online tuition payment
Duration: From Jul. 1, 2016 to Sep. 30, 2016
Activity: Students can get Groundlink pick-up service worth $100 once paying $4,000 or more (about 25,000 RMB) via domestically-issued UnionPay cards via https://paytuitionnow.com. Cardholders can submit application via the activity page of UnionPay Shop The World website. UnionPay will send Groundlink promotion code to cardholders by email after verifying the transaction.
2. Privileges for tuition payment with UnionPay cards via Aoji Education
Duration: From Jul. 1, 2016 to Aug. 31, 2016
Activity: Students who study in Australia can get a cash reward worth 100 AUD and a lottery draw opportunity once paying 10,000 AUD or more at Aoji Education’s offices in Sidney, Melbourne and Adelaide. The prizes of the lottery are Huawei mobile phones and watches.
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