InComm, a prepaid product and transaction services company, announced today a partnership with Geoswift, a leading provider of cross-border payments between China and the rest of the world. Covering living expenses while studying in the U.S. can be a challenge for foreign students. Through this new program, which should be available in early 2017, parents in China will be able to help solve this challenge by transferring funds to their child’s prepaid card via InComm’s payment technology.
“Chinese students studying in America can face numerous challenges related to paying their living expenses. Most have no established credit, bank accounts, etc. Getting money regularly from home in a quick and efficient manner helps facilitate the ability to pay for things like transportation, books, food, and other daily needs,” said Dana Nino, Executive Vice President. “We hope that solving this pain point for these students will significantly improve their overall experience studying abroad in the United States.”
According to the Institute of International Education, there are nearly one million international students studying in the U.S., and 31.2 percent of those students are Chinese, more than double any other country. With Geoswift marketing the solution to parents all across China and InComm processing the transactions, more of those students will be able to receive the funds they need, when they need them.
“This is an exciting opportunity for InComm to use our innovative technology and bridge the gap between international students and their parents,” said Phil Graves, President, InComm. “By partnering with Geoswift, we are demonstrating how our services not only change international commerce, but also help people looking for convenient solutions to everyday problems.”
