The news was written on 02/14/2019
The Western Union Company a leader in money transfer services, has collaborated with JTB Corp. to establish a new sales channel for the promotion of its new international platform designed for students and academic institutions to safely process money transfers, dubbed GlobalPay for Students.
GlobalPay for Students allows students to safely and easily pay their tuition directly to academic institutions from their mobile phone in any part of the world and in any currency. The platform also enables institutions to accept and track such payments from students.
Having a large network of connections to academic institutions in Japan, JTB will introduce these institutions to Western Unions GlobalPay for Students.
After GlobalPay for Students was introduced to Japan in 2017, many Japanese educational institutions implemented this platform for processing incoming payments from their students. The payments solution makes it easier for foreign student studying in Japan to pay their tuition fees which increases number of students coming to Japan for education.
With introducing academic institutions to the platform that connects them to Western Union’s global network, it is excepted that 300,000 foreign students will be accepted to Japanese educational institutions by 2020.
According to Ken Nakano, JTB International Education and Exchange, the current number of foreign students accepted to Japanese institutes is over 270,000, and this number is expected to be increasing in the near future as the policy of accepting foreign students in becoming more favorable, and thus the solution offered by Western Union is very valuable for both students and institutions.
Haruhiko Ohashi, Western Union Business Solutions Japan Country Manager said that that Western Union highly appreciated teaming up with JTB in this important project, and were grateful that JTB would advocate their payment solutions in Japan on their behalf.