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Western Union's Business Unit Collaborates to Ease Payments

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The Western Union Company (WU - Free Report) announced that its unit, Western Union Business Solutions, has tied up with Temple University Japan Campus (TUJ), which will allow students to pay their tuition fees in a simplified process. The payment solution would further ensure that the full amount of funds arrives on time and without any hidden charges.

WU GlobalPay for Students — the international payment platform — provides accessibility to students with which they can review the payment options from beforehand with a price comparison tool and lock-in exchange rates for up to 72 hours. Moreover, students can make these transactions in local currency or the money of their choice and can track their payment status via online portal, email, and text messages. It helps freeing up financial and administration resources for academic institutions.

With the aid of an application programming interface (API), the system automatically inputs the student’s details, such as the name, number, invoice ID, payment amount, etc. to facilitate a convenient experience.

This exclusive platform can be co-branded to contain an institution’s name or logo and can even be translated into 10 languages.

Notably, TUJ would be able to manage its pupils’ global payments in a seamless manner. The API-generated system would enable the university to handle its evolving number of student payments.

Western Union Business Solutions is a reliable payment provider, spreading across more than 200 countries and territories. Meanwhile, GlobalPay for Students is present in more than 700 educational institutions. It offers online payment options, bank transfer and credit card payments. After suffering soft revenues for quite some time, the segment is now recovering. The company achieved constant currency revenue growth for the third straight quarter in this segment, driven by strong growth in Asia-Pacific and Europe. It is taking additional actions to improve results going forward.  

Shares of this Zacks Rank #3 (Hold) company have lost 4.9% in the past year against its industry’s growth of 15.7%.

Stocks to Consider

Investors interested in the same space might look into a few better-ranked stocks like Global Payments Inc. (GPN - Free Report) , WEX Inc. (WEX - Free Report) and Cardtronics PLC (CATM - Free Report) .

Global Payments offers payment technology and software solutions. It holds a Zacks Rank #2 (Buy). In the last four quarters, the company delivered average positive surprise of 3.11%.

WEX provides corporate card payment solutions in North and South America, the Asia Pacific as well as Europe. The company currently carries a Zacks Rank of 2 and managed to pull off average trailing four-quarter positive surprise of 2.12%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cardtronics offers automated consumer financial services through its network of automated teller machines and multi-purpose financial services kiosks. The company came up with average four-quarter beat of 43.8%. It sports a Zacks Rank #1 (Strong Buy).  

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