Currency Select has developed an education sector solution in partnership with Western Union Business Solutions (WUBS) that allows international students (and/or their parents) to pay for their tuition, accomodation and other fees in their own currency.
WUBS' Global Pay for Students (GP4S) is a web portal solution that incorporates card payment acceptance with Currency Select's Dynamic Currency Conversion (DCC) with international wire transfer payment methods for Australian education service providers. Currency Select's merchant services offering sits behind GP4S to fulfill card processing, funds settlement and payment of DCC rebates to participating education institutions. DCC rebates act as an offset to the merchant services fees (MSF) charged for processing the card transaction, thereby significantly reducing the cost of acceptance.
This solution streamlines the collection of student payments and provides built-in reporting and reconciliation services for education institutions. Because it is a completely outsourced processing solution, education institutions can get up and running quickly with only minimal integration required from the institution's web-site.
GP4S in conjunction with Currency Select DCC and merchant services has become the preferred solution of choice for the Australian higher education sector with regard to international student payments. It is easy to setup and operate, secure, robust and extremely cost-effective due to the benefit of DCC rebates applying on all "opted-in" DCC transactions.
If you are an Australian education institution and collect international student payments, then our solution offers compelling operational and cost benefits combined with comprehensive locally-based support and processing from both WUBS and Currency Select teams. Both we and WUBS also contract with Australian education institutions using Australian corporate entities, so our merchants benefit from the normal legal, corporate and regulatory protections that exist in contractual arrangements between Australian companies.
Please contact us for an assessment of your needs today.