According to the statistics from the Chinese Ministry of Education, China has been the world’s largest source country of international students, and in 2018, the number of Chinese students studying overseas increased by more than 11% year-on-year. Chinese students are studying in more countries, and the average age of these students are increasing young.
In order to meet the payment needs of students studying overseas for tuition payment and daily consumption, UnionPay International has continued to optimize its payment services for international students over the past years. So far, education-related payment service has become a feature service offered by UnionPay, and the related transaction volume grew by over 1.5 times year-on-year in 2018. UnionPay payment is accepted in over 5,000 educational institutions outside mainland China.
UnionPay International provides a variety of other payment channels for students. International online educational payment platforms such as Flywire, Western Union and iEduPay, and the official website of about 100 colleges and universities in Australia and New Zealand, as well as the official website of TOEFL and GRE all support UnionPay Online Payment service. Moreover, students can pay directly with UnionPay cards for tuition fees at about 1,000 educational institutions in Australia and over 100 institutions in UK, France, Italy and Spain.
Online platforms such as Flywire and CIBC Canada offer UnionPay cardholders year-round promotions for tuition payments. UnionPay cardholders can enjoy the best service charges.
UnionPay services meet diverse payment needs of overseas study
So far, the UnionPay acceptance network has expanded to 174 countries and regions. In students’ major destinations such as Europe, North America and Australia, the overall acceptance coverage of UnionPay has reached 65%, 70% and 90% respectively. In order to meet the daily payment needs of students who study overseas, UnionPay International has made continuous efforts in expanding its acceptance in and around the campus, covering canteens, student service centers, dormitories, bookstores, convenience stores, etc.
In Europe, for example, student service centers, dormitories and libraries in about 100 colleges and universities, including Imperial College London, Coventry University and University of Southampton, as well as the local well-known student apartment brand, Chapter, now support payments with UnionPay cards. UnionPay cards are also accepted by on-campus merchants in colleges and universities such as Paris Institute of Political Studies and Paris-Sorbonne University. Students with UnionPay cards can also pay at over 50% of the merchants around colleges and universities in Germany and Hungary.
Students who study in 46 countries and regions outside mainland China can pay via the UnionPay app too. Sectors accepting the app include public transit, department stores, supermarkets and convenience stores. Students can pay by scanning QR codes or with their mobile phones. Students in Canada can use the UnionPay app to make QR code payments at well-known Chinese supermarkets such as FoodyMart, Al Premium Foods, and New World. Students in Australia can make tap-and-go payments at Woolworths and Myer, etc. Also, about 90% of POS terminals at fast food restaurants, supermarkets and shopping malls in Russia now support UnionPay mobile payments service.
Students may either bring their UnionPay card or apply for it where they study. So far, UnionPay cards are issued in 52 countries and regions including major destinations for overseas study such as Hong Kong, Macau, Australia, Japan and Canada.