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PEERTRANSFER PLANS TO OPEN IN SHANGHAI

PYMNTS.com

PeerTransfer, a global payment solutions provider for the education industry, announced today (July 16) its official plans to open in Shanghai.

The company announced that an application has been submitted to expand its operations into China, with Shanghai as its home base. The company will operate under the name PingFuFei Commercial Consultancy Limited Company. PeerTransfer plans to work with local partners to enable tuition payment services to be made on behalf of Chinese students that attend colleges or universities in North America, Europe and Australia.

The deal is anticipated to be completed by the end of the month. Once approved, peerTransfer will also be able to upgrade tuition payments for all students coming from the Asia-Pacific region — including Hong Kong, Japan, Singapore, South Korea and Australia.

“With the continuing growth of the Chinese student population attending educational institutions abroad, now is the right time for peerTransfer to expand its presence here,” said Mike Massaro, CEO for peerTransfer. “With operations in Shanghai we will be able to provide Chinese students and the educational institutions they attend abroad with all of the tools they need to make international tuition payment fast, easy and efficient. The new office will also enable us to work more closely with our existing Chinese payment and banking partners.”

According to stats provided by peerTransfer, China accounts for 28 percent of international students attending higher education institutions in the U.S. With the help of peerTransfer’s services, Chinese students can have quicker access to tuition payments and have access to digital services where the payments can be tracked. Students have options for payment methods, such as bank transfers, credit and debit cards and digital wallets.

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