Shared Value services make the company competitive while, at the same time, benefiting our customers and society. Our education products and services deliver both social and business impact by expanding Western Union’s portfolio of offerings into a new vertical market, while at the same time promising powerful benefits to NGOs, universities, and the students they serve. These services are examples of shared value in action.
Through the GlobalPay for Education platform, Western Union Business Solutions (WUBS) enables global universities to receive local currency payments from students around the globe and streamline their financial operations. This pioneering service comes at a time when the number of students studying abroad is expected to grow 75 percent by 2025 to more than 7 million (source: International Institute for Educational Planning, UNESCO).
WE HELP UNIVERSITIES TO:
- Receive tuition funds from international students
- Accurately reconcile student payments
- Make payments globally to partners, vendors and employees
- Manage a growing number of foreign currencies
WE HELP STUDENTS TO:
- Use a simple online portal in a local language to pay their international tuition in local currency
- Lock in cost and rate quotes for 72 hours, and receive an email confirmation when payment is complete
- Pay by credit card in local currency with Dynamic Currency Conversion
In many regions where nonprofit, non-governmental organizations like Save the Children work, bank access is limited. This makes funding projects and providing emergency relief a challenge.
We saw an opportunity to help NGOs manage their finances and help them get money where it’s needed the most, even in remote locations with limited or no banking systems. In September 2013, we launched the NGO GlobalPay platform. With this platform, NGOs have a quick and secure way to transparently track funds and report on payments and disbursements.
Easy login: No set up time – get instant acess with personal credentials
Global reach: Send cash urgently to beneficiaries at 300,000 Agent locations worldwide
Gain visibility: Track and trace money sent in real time with full visibility
Accountability: Report on all money sent in cash or accounts – provide updates to your community
Strategic insight: Manage future international payments and currency volatility risk efficiently
We are uniquely placed to help solve the challenges of NGOs by combining our cross-border business payment platforms with our vast global reach. The NGO GlobalPay service provides access to Western Union Business Solutions’ dedicated institutional payment platforms – connected to extensive consumer infrastructure. This allows the ability to offer options that have never before been available.