Western Union and Uni Pay will become the latest firms to enable transfers for overseas education payments in the yuan – an emerging trend that could slash costs for Chinese students and universities worldwide.
US firm peerTransfer says it has become the first money transfer service to allow Chinese students to make direct educational payments overseas in their home currency. The system is open to those studying in the US, Europe, Australia and Canada, who peerTransfer claims could save $100m per year.
