Western Union launches GEO payments for education sector
23 February 2012 | 2272 views | 0
Source: Western Union
Western Union Business Solutions today announced the launch of its new GEO for Education service with the University of Edinburgh, a leading Scottish university, to provide an international payments platform specifically for overseas students.
Western Union Business Solutions is a business unit of the Western Union Company (NYSE: WU), a leader in global payment services, which recently acquired Travelex Global Business Payments. GEO for Education marks the first platform launch for the combined organization in Europe and has been designed for universities and higher education institutions to help them improve the process of collecting and managing payments from overseas students. It includes new security features, a more efficient reconciliation process for student payments, and uses Western Union Business Solutions' recently acquired Pay 24-7 online payments technology to reduce the costs associated with collecting international fees.
To celebrate the launch, Western Union Business Solutions is proud to announce the Western Union GEO Fund for British Universities. The Western Union GEO Fund will offer £1,000 every year to each of its university clients in the UK to give financial support to an international student in need. The recipients will be decided by the universities themselves, and the money will go towards the cost of the students' tuition fees or to assist those in situations of financial hardship.
Raj Agrawal, President of Western Union Business Solutions, said, "I am very proud to be announcing the launch of both GEO for Education and the Western Union GEO Fund for British Universities. These are exciting times for Western Union as we deepen our commitment to the education sector by expanding our dedicated education team across Europe."
Cath Cullen, Head of Education Solutions for Western Union Business Solutions, said, "I've worked in international education for over 12 years and I know only too well how financial pressures can be a barrier to a priceless international education. The Western Union GEO Fund means we can play our part in addressing this issue. Part of my job involves working with the higher education sector in Europe to identify issues faced by students and find solutlutions to them. I am delighted to be part of a company that listens to the needs of the industry and is able to offer solutions, like GEO for Education, that make sense."