Western Union's Business Unit Collaborates To Ease Payments
Zacks Investment Research | Jun 02, 2019 10:16PM ET
The Western Union Company (NYSE:WU) announced that its unit, Western Union Business Solutions, has tied up with Temple University Japan Campus (TUJ), which will allow students to pay their tuition fees in a simplified process. The payment solution would further ensure that the full amount of funds arrives on time and without any hidden charges.
WU GlobalPay for Students — the international payment platform — provides accessibility to students with which they can review the payment options from beforehand with a price comparison tool and lock-in exchange rates for up to 72 hours. Moreover, students can make these transactions in local currency or the money of their choice and can track their payment status via online portal, email, and text messages. It helps freeing up financial and administration resources for academic institutions.
With the aid of an application programming interface (API), the system automatically inputs the student’s details, such as the name, number, invoice ID, payment amount, etc. to facilitate a convenient experience.
This exclusive platform can be co-branded to contain an institution’s name or logo and can even be translated into 10 languages.
Notably, TUJ would be able to manage its pupils’ global payments in a seamless manner. The API-generated system would enable the university to handle its evolving number of student payments.
Western Union Business Solutions is a reliable payment provider, spreading across more than 200 countries and territories. Meanwhile, GlobalPay for Students is present in more than 700 educational institutions. It offers online payment options, bank transfer and credit card payments. After suffering soft revenues for quite some time, the segment is now recovering. The company achieved constant currency revenue growth for the third straight quarter in this segment, driven by strong growth in Asia-Pacific and Europe. It is taking additional actions to improve results going forward.
Shares of this Zacks Rank #3 (Hold) company have lost 4.9% in the past year against its Original post
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