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Wirecard, EasyTransfer streamline payment for international Chinese students

Monday 27 January 2020 14:42 CET | News

Wirecard and EasyTransfer have announced they are collaborating to enable streamlined mobile payments for digital-native Chinese students.

The two companies are launching a new mobile payment and loyalty app designed for Chinese students studying outside of China. Approximately USD 3.8 billion in tuition payments were transferred via EasyTransfer in the first year alone. It is expected that more than USD 1 billion in payment volume will be processed by the newly-designed solution in the next three years in the first few markets only.

EasyTransfer was founded by a group of former international students who wanted to help simplify tuition payments for students worldwide. The company streamlines the entire traditional wire transfer process and makes it fully digital. After expanding to over 30 countries around the world, EasyTransfer has seen an 829% growth in transaction volume and 1079% growth in overall number of transactions over the past two years.

Wirecard has customised its intelligent mobile payment platform specifically for EasyTransfer. EasyTransfer will be able to offer Chinese international students flexible payment processes as well as a variety of loyalty features and ancillary services from its network of partner merchants. Thanks to this collaboration, students can shop online and offline via Wirecard issued fully digital payment products, pay for meal plans, receive targeted partner merchant offers, make peer-to-peer transactions, and manage expenses through the EasyTransfer app.

Wirecard will initially enable EasyTransfer’s first phase roll out into the UK, while later on expanding into markets like Australia, North America, and other Chinese student destinations.

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Keywords: Wirecard, EasyTransfer, mobile payments, partnership, loyalty app
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce