EasyTransfer

About EasyTransfer

EasyTransfer is a financial technology company specializing in cross-border education payments. The firm was founded in 2013 by Tony Gao and Michael Shang, who, as former international students, experienced firsthand the difficulties of paying tuition from abroad. Gao’s personal struggle with the cumbersome, confusing, and time-consuming process of wiring funds for his U.S. boarding school tuition from China inspired the venture. He and Shang launched the company while they were students at the University of Southern California, aiming to create a more straightforward and cost-effective solution.

The company provides a global payment platform that enables international students and their families to pay for tuition, housing, application fees, and other education-related expenses. Its primary clients are international student families, primarily from the Asia-Pacific region, as well as educational institutions, agents, and university programs worldwide. EasyTransfer's business model is both B2C, directly serving students, and B2B/B2B2C, partnering with universities and education agents. Revenue is generated through commissions on transactions and fees for service. The platform distinguishes itself by offering a streamlined online process that can be completed in minutes, using transparent, real-time bank market exchange rates with no markups. It supports payments in over 170 countries and processes more than $10 billion in annual transactions.

EasyTransfer's service is designed to feel like a domestic transfer by providing a user interface localized to the payer's native language and customer support available in their home time zone. The platform integrates with major mobile banking apps and online financial platforms, including an exclusive partnership with Tencent's WeChat Pay for tuition payments. A key feature is its proprietary intelligent anti-money laundering (AML) and compliance verification system, which automates the complex paperwork required for international transfers and helps users navigate foreign exchange regulations. The company has received backing from prominent investors such as Tencent, IDG Capital, ZhenFund, and the EDU Fund.