peerTransfer to Open Operations in China
peerTransfer, the leading provider of global payment solutions for the education industry, announced today that it has submitted an application in China to open operations in China.
The firm will be based in Shanghai and operate as PingFuFei Commercial Consultancy Limited Company. In cooperation with local partners, the move enhances peerTransfer’s ability to provide easy-to-use, transparent tuition payment services for Chinese students attending colleges and universities in North America, Europe and Australia. peerTransfer anticipates completion of the application process by mid to late July.
China is the largest and fastest-growing source of international students attending American higher-education institutions, accounting for 28% of international students in the U.S. With its new Shanghai presence, peerTransfer looks forward to improving the quality and focus of its online tuition payment tool – customized by college or university – for Chinese students studying abroad. The company provides Chinese students with an easy-to-use digital experience offering complete transparency, 24/7 servicing, and an online/mobile dashboard detailing the up-to-the-minute status of students’ tuition payments. Students can choose from a marketplace of secure payment methods including bank transfers, credit and debit cards, and e-wallets.
“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, chief executive officer 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.”
Once approved, the Chinese entity will also enhance peerTransfer’s ability to process tuition payments on behalf of foreign students emanating from across the Asia-Pacific region including Hong Kong, Japan, Singapore, South Korea and Australia. The student population emanating from Asia-Pacific is by far the fastest growing source of international students.
peerTransfer is the leading provider of global payment solutions for the education industry, providing processing, tracking and reconciliation services for over 700 educational institutions worldwide. The company offers an easy-to-use, economical payment experience for international students from over 200 countries and territories. Using local bank transfers, online payments, and credit and debit cards denominated in local currencies, students can more easily and confidently pay for their international tuition, room and board at educational institutions around the world. peerTransfer’s discounted currency conversion rates can offer significant savings when compared to rates charged by home-market banks and credit card providers. The company offers outstanding customer service and payment monitoring for both students and universities. Brown University, Cornell, MIT, University of Miami, University of Massachusetts–Amherst and University of Western Australia are just some of the schools offering the peerTransfer service to their international students.
peerTransfer is headquartered in Boston and has operations in Europe, Asia and Australia. For more information, visit www.peerTransfer.com.