Western Union companyof (Quick quote WUWU – Free Report) Western Union Business Solutions has partnered with Japan’s famous private university, Ritsumeikan University. The university will use Western Union Business Solutions’ WU GlobalPay for Students platform.

Shares of the company have lost 4.8% in the last three days of trading, replicating declines in broader markets.

The platform aims to facilitate the process of paying tuition fees for international students at Ritsumeikan University. Students can choose the currency of their choice to make payments. They can monitor payment status through the digital platform, mobile messages and emails.

The platform not only offers a price comparison tool for students, but also allows them to freeze any exchange rate they wish to use for up to 72 hours.

The platform ensures that funds from students around the world reach institutions quickly and are free of hidden costs. In addition, institutions are spared the payment reconciliation process.

In addition, the recent merger appears to be a win-win situation for both Western Union and Ritsumeikan University. The partnership is likely to strengthen the confidence of educational institutions on the GlobalPay for Students platform. The move also builds on the success that Ritsumeikan Asia Pacific University (APU) has enjoyed through its collaboration with the platform last year.

Time and time again, Western Union Business Solutions has proven its credibility by launching solutions for the education sector.

Western Union has built a strong digital branch through massive investments. The arm has proven to be of great use amid the COVID-19 pandemic to carry out cross-border money transfers for people residing in different parts of the world.

Other companies that have made significant investments to upgrade their digital arm are MoneyGram International, Inc. (MGI Quick QuoteMGI – Free report), PayPal Holdings Inc. (PYPL quick quotePYPL – Free report) and Square, Inc. (Quick quote SQSQ – Free report).

Zacks Ranking and Price Performance

The shares of this company Zacks Rank # 3 (Hold) gained 33.7% in one year, against 16.8% in the sector. You can see The full list of current Zacks # 1 Rank (Strong Buy) stocks here.

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