Western Union (WU) Unit Partners to Ease Tuition Payment Process

The Western Union Company’s WU unit Western Union Business Solutions has tied up with Japan’s renowned private university, Ritsumeikan University. The university will put the WU GlobalPay for Students platform of Western Union Business Solutions to use.

Shares of the company lost 4.8% in the last three days’ trading, replicating declines in broader markets.

The platform aims to ease the payment process of tuition fees for international students at Ritsumeikan University. Students can choose currency of their choice to make payments. They can keep a check on the payment status via the digital platform, mobile messages and email.

The platform not only offers a price comparison tool for students but also enables them to freeze the rate of currency they desire to use for up to 72 hours.

The platform ensures that funds from students worldwide reach the institutions promptly and are devoid of hidden costs. Also, institutions are spared of looking after payment reconciliation process.

Further, the recent tie-up seems to be a win-win situation for both Western Union and Ritsumeikan University. The partnership is likely to bolster the trust that educational institutions have on the GlobalPay for Students platform. The move also builds on the success that Ritsumeikan Asia Pacific University (APU) has been witnessing owing to its collaboration with the platform last year.

Time and again, Western Union Business Solutions has proved its credibility by launching solutions for the education sector.

Western Union has built a robust digital arm through massive investments. The arm proved to be of great use amid the COVID-19 pandemic in making cross-border money transfers for people residing at different parts of the world.

Other companies that have made significant investments to upgrade their digital arm are MoneyGram International, Inc. MGI, PayPal Holdings Inc. PYPL and Square, Inc. SQ.

Zacks Rank & Price Performance

Shares of this Zacks Rank #3 (Hold) company have gained 33.7% in a year compared with the industry’s rally of 16.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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