ATLANTA, Oct. 26, 2016 /PRNewswire/ -- InComm, a leading 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."
Geoswift will be exhibiting at Money 20/20, October 23 - 26, 2016. Visit Geoswift at booth #3128 to learn more about this partnership.
InComm is a leading, global, technology-enabled network facilitating prepaid commerce and technology solution services. Since our founding in 1992, we have established an omnichannel commerce network that connects our distribution partners with our products and serves partners and consumers through more than 500,000 physical locations as well as through digital channels, including online, mobile and social. With 206 global patents, InComm is headquartered in Atlanta with a presence in more than 31 countries in North and South America, Europe and the Asia-Pacific region. Learn more at www.incomm.com or connect with us on www.twitter.com/incomm, www.facebook.com/incomm, www.linkedin.com/company/incomm or www.incomm.com/blog.
Geoswift is an innovative payment technology company connecting China and the rest of the world. The company comprises the world's leading payment technology experts that have a deep understanding of the industry, technology, and global and China monetary policy. Geoswift provides clients with customized one-stop cross-border payment solutions to and from China. Geoswift is relied upon by the world's leading e-commerce companies, most prestigious universities and the largest brands in the travel industry to grow their businesses.
Geoswift is an acquirer of UnionPay International in North America and a long-term partner of many other leading financial institutions. It also maintains 21 currency exchange outlets throughout China. Geoswift is headquartered in Hong Kong with operating offices in Shanghai, London, Vancouver, Seattle and San Francisco for strategic and regulatory functions. For more information, visit: www.geoswift.com or email email@example.com