Shinhan Bank, Danal create PayPal tuition payment option for international students

Shinhan Bank and Danal announced Tuesday they have partnered to allow international students to pay university tuition with PayPal.

Danal CEO Baek Hyun-sook, left, and Shinhan Bank Digital Solution Group Vice President Lim Soo-han pose for a photo after signing the memorandum of understanding on Monday. [SHINHAN BANK]

Shinhan Bank and Danal announced Tuesday they have partnered to allow international students to pay university tuition with PayPal.

Shinhan Bank and Danal, a payment service provider, signed a memorandum of understanding (MOU) on Monday to add PayPal as a payment option on the bank website's HeyYoung Tuition Payment for Foreign Students service.

Following the MOU, students at universities partnered with Shinhan Bank will be able to pay their tuition using PayPal.

Students can go to the HeyYoung Tuition Payment for Foreign Students section on the bank's website, use their student ID or university application number to check their payment amount and make transfers.

The service will operate as a trial run in June and officially open in July.

Currently, Hanyang University students can pay their tuition using PayPal through the service.

Shinhan Bank has previously allowed students to pay tuition using WeChat Pay but decided to add PayPal to make it more convenient for international students.

"International students from various countries will be able to pay their tuition or student council fees using simple payment methods through our service," said a spokesperson for Shinhan Bank. "We will do our best to offer convenient services for international students."

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]