Mastercard Singapore Holding Pte. Ltd. has acquired a 2.5% stake equity stake in EasyTransfer, a leading provider of cross-border payment solutions for international students according to recent public company filings.
The move is Mastercard’s first-ever direct equity investment in the Greater China region, and marks a significant expansion into the education payments vertical. Shareholder change filings were recently updated on the National Enterprise Credit Information Publicity System, as well as the business information platform Qichacha showing the ownership change.
Founded in 2013, EasyTransfer has grown into a widely-used platform for international tuition and fee payments for international students. The company counts Tencent, IDG Capital and several other high-profile strategic investors among its backers.
According to the company’s announcements, in recent years EasyTransfer has expanded its footprint in the UK by becoming the official payment partner of major universities including the University of Manchester, Durham University, Newcastle University, and the University of Nottingham.
Over the years, the company has become one of the most popular channels for tuition payments among Chinese students studying abroad. For Mastercard, the stake appears to represent a strategic move into the education payment segment, where demand is rising globally.
The two companies already have a history of collaboration. On its Q2 2023 earnings call, Mastercard announced that it had “established an exclusive partnership with EasyTransfer in Greater China,” highlighting how the partnership leverages Mastercard’s virtual card capabilities to support cross-border tuition payments.
Mastercard’s broader business presence in China also expanded in 2023 when its local entity, Mastercard NetsUnion, received approval from the People’s Bank of China and the National Administration of Financial Regulation to commence domestic bank card clearing activity.
