Customer story 03
International university branch
Parents in China now pay tuition by scanning a DuitNow QR with Alipay or WeChat. Payment confirmation is now in real time, instead of taking days.
The challenge
The university has a sizeable community of mainland Chinese students whose parents pay tuition from China. Cross-border payments were slow and costly. Parents paid foreign exchange spreads and transfer fees charged by the originating Chinese bank, intermediary banks and the receiving Malaysian bank. The finance team also had to reconcile incoming payments with individual student accounts by hand.
The solution
With PeGePay, parents pay directly through Alipay or WeChat by scanning a DuitNow QR code. Currency conversion from CNY to MYR happens once, and the payment is confirmed in real time.
The outcome
Families save more than half of the cost of the old payment route on each payment of a semester's fees. Payment confirmation is now in real time, down from 2 to 5 business days. The finance team no longer spends hours matching incoming payments to student accounts.