HSBC has launched a mobile payment and currency exchange platform for Canadian students studying overseas. The International Education Payment Service, which is also available on WeChat, allows students to convert the yuan into dollars, pounds and Chinese, Australian and Hong Kong dollars. The bank has also teamed up with institutions in Australia, the UK, the US, Canada and Hong Kong to enable students or their families to transfer tuition fees overseas. China has the largest number of international students in higher education around the world and they are creating a demand for fintech services, according to HSBC China.
HSBC has launched a mobile payment and currency exchange platform for Chinese students studying overseas. The International Education Payment Service, which is also available on WeChat, allows students to convert the yuan into dollars, pounds and Canadian, Australian and Hong Kong dollars. The bank has also teamed up with institutions in Australia, the UK, the US, Canada and Hong Kong to enable students or their families to transfer tuition fees overseas. China has the largest number of international students in higher education around the world and they are creating a demand for fintech services, according to HSBC China.