Bay of Plenty-based education company TEMA has launched New Zealand operations for China's Clarity Pay International (CPI) to provide international payment services for students from China.
"We can arrange payments directly from China to the educational institution in New Zealand without going through intermediary banks," said TEMA managing director and CPI New Zealand country manager Richard van der Jagt.
CPI would bring a change to the way New Zealand education providers can reach out and attract international students from China. CPI has been licensed by All In Pay to provide its international payment platform.
All in Pay is a Chinese firm owned by state companies Shanghai International Group and Shanghai International Trust, and privately owned Wanxiang Group. It is the fifth-largest and fastest-growing payment solutions provider in China.
"TEMA links with both these companies to provide student support services and access to New Zealand organisations interested in hosting international students from China," said Mr van der Jagt.
Having secured the rights from All in Pay to provide international student remittances for New Zealand, Australia and the UK, CPI is offering a transparent, affordable and secure method of making international transfers via the All In Pay online payment platform.
Mr van der Jagt said it was difficult and costly for Chinese students to remit money, with charges by a number of intermediary banks. He added that, as well as reducing costs, the CPI remittances could be made more quickly.
This was important given the government now required students to provide proof of payment within 10 days of applying or a visa, instead of 30 days as was previously the case, he said.
Under the partnership, which has been negotiated with CPI's Hong Kong operation, CPI has also agreed to promote TEMA's services throughout its 35 offices in China.
"We said to them, a lot of banks are doing cross-border transfers, why don't we offer a complete package where a student can enquire about studying abroad, then we can offer to find them a place in New Zealand, and arrange their travel and fee payment. They thought that was a unique point of difference. And it gives us more credibility and direct channels to market in China."
CPI founder and managing director Michael Dai said the partnership aimed to provide a complete solution for students, assisting both those currently studying in New Zealand as well as those wanting to find a place at the primary, secondary or tertiary level.
"The launch of CPI to the New Zealand market with local partner TEMA will give Chinese students studying in New Zealand more study options, the choice of cheaper and faster payment methods and a transparent international service which works directly with New Zealand-based educational institutions," said Mr Dai.
The company aimed to become the most frequently used student services company, offering an integrated and reliable service and online payment platform, he said.
* TEMA offers international management and administrative services to educational organisations to help them enroll international students.