New research from Western Union reveals the huge productivity cost faced by Australian universities receiving payments from international students*
- A survey among 100 financial personnel from some of Australia’s leading universities reveals at least 57 working days may be lost annually per university due to finance staff matching, processing and reconciling overseas payments.
- 30% of universities say that time and human resources required to process international payments was their biggest challenge.
- 34% of universities say that their biggest challenge was students being unable to use the payment method in their home country
- Over 46% of Australia’s international students say they had a negative experience when paying their university fees.
AUSTRALIA--(BUSINESS WIRE)--Australian universities could potentially gain almost one working week (4.8 days) per month, or 57 days every year, with the developments in processing and reconciling payments from international students, according to new research* released from Western Union.
Vicky Shepherd, 0475 464 143