MasterCard Launches Online Facility For Chinese Students
Zacks Investment Research | Aug 10, 2016 10:07PM ET
In an effort to make it easier for Chinese students to pay their college fees in the U.S., MasterCard Inc. (NYSE:MA) has launched an online payment site www.plastiq.com/mcuni.
This site has been developed in partnership with Plastiq and Planet Payment. While Plastiq converts Mastercard credit and debit card payments into checks or money orders via its technology, Planet Payment helps in currency conversion.
This first-of-its-kind payments service will help Chinese students and their parents, who face difficulty in paying fees to U.S. universities and colleges given the limited payment methods and currency exchange. Most of the U.S. educational institutions only accept payment via check or electronic bank transfer, making it difficult to manage fees from overseas.
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