Foreign Varsities to receive payment in Indian rupee
Students will also be able to pay from their homes and a trained representative of Paul Merchants Limited or Weizmann Forex will come to the student to collect the relevant documentation and arrange INR settlement on behalf of the university. Kapur said that “nearly a quarter of a million Indian students study abroad and this service will help them make payments to their international universities from the comfort of their homes in a transparent, fast and effective way.”
He disclosed that Western Union Business Solutions offers Business to Business Solutions and enables businesses, colleges and universities of all sizes to send and receive international payments and manage foreign exchange in more than 135 currencies, creating unique solutions tailored to suit their needs. Institutions are supported by a network of trading offices, strategic banking relationships and a global clearing network. Universities use the cross-border payments service for study-abroad programs, student refunds, and for professors or recruiters traveling worldwide.
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