Today: December 12, 2018, 11:53 pm

Flywire and UnionPay Partner to Take the Cost Out of Cross-Border Payments from China 2018-06-13 10:03:02

Promotional offer available for international tuition and healthcare payments through December 2018

BOSTON, June 13, 2018 (GLOBE NEWSWIRE) -- Flywire and UnionPay International are providing Chinese students and patients with discounted foreign exchange rates on cross-border tuition and healthcare payments now through the end of 2018. The offer is available to international students and patients originating from China and attending any school or receiving care at any healthcare institution around the world that offers Flywire as a preferred method for international payments. Payers using a UnionPay credit card will get the same foreign exchange pricing as a bank transfer - the lowest cost card payment option available.

China is the number one source of international students studying around the world. According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), over 800,000 Chinese students pursued education abroad in 2016. China is also a major source of international patients around the world. More than 500,000 Chinese patients traveled abroad for healthcare in 2016 according to, a 5X increase from 2015. On average, each of these patients spent over 50,000 Chinese Yuan or approximately US $7,800.

As common as traveling abroad for education and healthcare has become, the process of initiating, processing and reconciling cross-border payments remains a challenge for both payers and receivers. Flywire has built a robust business serving educational institutions, hospitals and businesses around the world and established its platform as the preferred solution for international payments and receivables processing. Institutions and businesses use it to offer payers a highly-tailored, international payment experience - customized by country, currency and institution. In addition, financial and operations teams benefit from streamlined reconciliation and tracking of international payments. Since its founding, Flywire has processed over $5 billion in payments for over 1,400 schools, hospitals and businesses.

"UnionPay is the most trusted payment brand in China and a preferred option for students, patients and their families when making cross-border payments," said Ryan Frere, vice president of global payments for Flywire. "We are always looking to provide our clients and their customers with the highest levels of convenience, security, and cost savings as they make payments from everywhere around the world. We're pleased to partner with UnionPay."

"Our partnership with Flywire takes the cost, complexity and friction out of cross-border payments for Chinese citizens," said June Chen, chief representative of UnionPay International. "Together, we're able to connect Flywire's extensive network in education and healthcare with the preferred payment choice in China, making it faster, easier and less expensive for all involved."

About Flywire
Flywire is a provider of global payment and receivables solutions, connecting over 1,400 businesses and institutions with their customers on six continents. The company processes billions in payments per year around the world. Flywire offers a comprehensive suite of products including OnPlan, a domestic billing and payment solution for pre-collection and payment plans. The company also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as around-the-clock online payment tracking. Flywire is headquartered in Boston and has offices in Chicago, London and Manchester (UK), Valencia (Spain), Shanghai, Singapore, Tokyo, Cluj (Romania), and Sydney. For more information, visit

Media Contacts:

for Flywire
Tim Walsh
Walsh Group Marketing

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Flywire via Globenewswire

# 713 Words
Related Articles
More From The Author
Tokyu Agency: This Is Japan's World Cup [..]
During the 2010 FIFA World Cup in South Africa, Paul the Octopus amazed the world by accurately predicting match results [..]
Update on Arion Bank‘s IPO
For an update on Arion Bank‘s IPO please visit Contact: Sture Stölen Head of Investor Relations +46 [..] Announces Version 10 Now Available! announced today the release of their newest update to their enterprise print management software, UniPrint Infinity [..]
Bottomline Technologies Demonstrates Market Leadership in [..]
Direct CHAPS access helps banks and corporates become true payment enablers   PORTSMOUTH, N.H., June 13, 2018 (GLOBE NEWSWIRE) -- [..]
ING and AXA announce digital partnership to [..]
ING and AXA announced today an exclusive, long term, multi-country bancassurance partnership to provide insurance products and [..]
More From Business
Learn about Dishonest Companies and Specialist on [..]
12 December 2018 – provides the most favorable conditions for average consumers to publish the alerts and warnings about [..]
Brands Reviews Offers the Best Quality Reviews
12 December 2018 – Brands Reviews is offering the largest collection of reliable and trusted qqtube review and subpals review [..]
509 Electric Is the Best Residential Electrical [..]
Yakima, USA – 12 December 2018 – 509 Electric is the best Yakima Electrical Contractor ready to offer top quality [..]
Cross Talks Awarded $5K Grant from the [..]
The Penn State Brandywine Boost, a program of the Invent Penn State initiative, has selected Delaware State Chamber Member, Soraya [..]
Huber Needles: Market is likely to register [..]
This Market Study provides key insights and forecast on the global Huber needles market for the forecast period 2017-2024. The [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.