Global payments company Western Union Business Solutions has launched its enhanced GlobalPay for Students product, which enables academic institutions to more efficiently reconcile, refund and track payments from international students.
The company - a business unit of US-based Western Union – delivers a platform designed to help universities and colleges simplify the reconciliation of incoming international payments, which it says can be a complex and time-consuming process.
“This release of WU GlobalPay for Students is a real testament of Western Union’s capabilities and shifting orientation as a fintech organisation,” says Kerry Agiasotis, Chief Payments Officer, Western Union.
“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 Western Union has made in new technologies.”
{loadposition peter}Agiasotis says the upgrade results in significant efficiencies for its education institution customers in more rapidly and cost effectively processing international student receivables, and 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 with the involvement of international students to help improve the overall payer experience.
Agiasotis says that in addition to online bank transfer and credit card payments, the enhanced platform offers users a wide range of online payment options including Geoswift (Unionpay, Tenpay & AliPay), POLIpayments, India Net Banking, Trustly and SOFORT.
The upgrade also includes a new reporting dashboard so customers can view payment activity at-a-glance, a fully-automated refund process that Western Union says will help streamline processes for customers and payment tracking that gives payers complete visibility on the status of their payment.