American payment solution provider Flywire has renewed its cross-border payments partnership with UnionPay.
The partnership, which began in the Spring of 2018, offer Chinese nationals the option to use their UnionPay cards for global tuition or healthcare payments for a greatly discounted fee.
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Announcing the deal, Flywire said that on its platform UnionPay cardholders will receive the same foreign exchange pricing as a bank transfer.
Flywire vice president of global payments Ryan Frere said: “We strive to offer our clients’ payers the most convenient and secure payment options in each international market they serve.
“For Chinese students and patients making cross-border payments, UnionPay is the most preferred and trusted brand. We’re pleased to expand this program and bring valuable savings to more payers and institutions.”
Flywire added that it will also offer promotional discounts to all UnionPay cardholders originating from China and receiving education or healthcare services internationally.
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By GlobalDataUnionPay International Americas general manager June Chen said: “Working with Flywire helps us to provide our Chinese clients with more options to make education and healthcare payments. Flywire is one of our top partners in the US and supports us in our goals to add more value for our cardholders.”
According to China Ministry of Education, 662,000 Chinese were studying abroad and around 630,000 people seeking outside medical treatment globally in 2018.
