LONDON, March 22, 2011 /PRNewswire/ -- Recognised globally for its specialist Education payment solution and sector expertise, Travelex Global Business Payments, the world's cross-border payments specialist, has recently accelerated its international presence in the Higher Education sector and now works with over 300 Universities worldwide, across the four continents in which it operates.

Travelex Global Business Payments works with 60% of the UK Universities in the Times Higher Education's World University Ranking[1], including the Universities of Oxford, Cambridge and London School of Economics. In Australia, Travelex works alongside the Universities of Melbourne and Sydney, two of the top three Universities in the United States, four of the top 10 Universities in Canada and a leading University in France.

Comments David Sear, Global Managing Director at Travelex Global Business Payments, "Managing student fee payments should be simple but in many cases, they can be time consuming and costly.

"Travelex Global Business Payments is the only global payments provider that employs specialist staff to work exclusively alongside our education clients, ensuring that customers' requirements are always exceeded. We estimate that the average University, with an intake of around 400 overseas students, could save GBP50,000 a year in fee processing costs by adopting Travelex payment solutions.[2] Travelex Global Business Payments offers a truly competitive service that is based on its long history and expertise in the sector."

One eminent Travelex Global Business Payments' client, the University of Oxford, comments: "The Travelex Global Business Payments system has greatly improved the service we are able to offer both students and collegiate university staff at Oxford. Since March 2008, we have been using the service to expedite the processing of US dollar student loan cheques, which therefore enables students to access funds for living expenses and tuition fees much more quickly and efficiently. The GlobalPay database is userfriendly and quick, and the Travelex Global Business Payments team have been a pleasure to work with from the outset."

For more information, visit http://www.travelexbusiness.com