Who we are
Easy Transfer Limited has grown out of the friendship of three individuals in China and the United States. Xiao (Michael) Shang has experience in the process of paying for his education in the United States. He is a recent recipient of a Masters of Business Administration from an institution in the United States and he has returned to China. Tony Gao is also a student in the United States from China. His experience of applying for admission and paying for his tuition with fund transfers from China helped him understand the need for a more efficient way. Dr. Randall Bretz has worked in the tuition management and payment industry in the United States for nearly 20 years, helping one of the largest processors to grow from a small company to the leading and highly respected United States company in the industry.
Xiao (Michael) Shang Chief Executive Officer
Michael Shang pursued his MBA program for 2 years at the University of Nebraska – Lincoln and experienced the challenges of paying tuition as a Chinese national attending an American University. Therefore, Michael decides to form Easy transfer to help simplify the process of international payment for all Chinese students in the United States Before going to United States, Michael worked as a Marketing Manager in a Hong Kong Financial Company for three years, which helped him develop knowledge and relationships of the financial industry in China.
Randall Bretz Director of US Business Development
Randall Bretz has worked in higher education and the tuition management industry for a combined 40 years. His experience in higher education includes administrator and faculty positions at a number of large and small institutions. His work in the tuition management industry included helping grow FACTS Management Company from a small tuition processor primarily serving private and faith-based schools to a division of Nelnet with a broad market of educational institutions at all levels from pre-school through graduate college.
Tony Gao US Business Development
As a young man, Tony left his home in China to attend high school in the United States. He is now on his way to college, also in the United States. In the years he has been pursuing his American education, he has dealt with the challenges of making sure his tuition was paid on time and with the issues related to making funds transfers from China to the United States. Tony is in charge of promoting our service to Chinese students on American campuses.
What we do
The number of students from China attending college in the United States has increased significantly in recent years. Likewise, the number of students from the United States going to China is increasing. Easy Transfer Limited helps these students make their tuition payments across the international banking system.
Easy Transfer operates an online service and maintains banking relationships with banks and payment processors in China and banks in the United States to give Chinese students and their families a single channel for tuition payment processing. To quickly and easily transfer the tuition payments to the institutions in the United States, ETL has agreements with institutions and their banks. These banking links in China and the United States make it much easier and less expensive for Chinese families to pay for their sons and daughters to attend a college or high school in the United States.
Why we do it
Making tuition payments through the international banking and payment processing system is a challenge for individual families and students. And, for the high school or college receiving the payment, it can be difficult to track who the payment is from.
- Transfer Time – Moving money from a student’s or family’s home bank to the account at the educational institution can take several days to several weeks and involve a number of transactions between financial institutions.
- Transfer Cost – Each time a transaction is touched by a financial institution there can be a processing charge. Without a clearly defined and existing relationship between the transmitting bank and the receiving institution, payment transfers can often go through several financial processing steps and thus increase the cost of the overall transaction.
- Regulation Issues – The countries involved, for security reasons, can often impose regulations and perhaps taxes on the funds being transferred. These regulations and taxes are often not intended on bona fide education related transactions.
- Record Keeping – While moving funds for an individual student can offer challenges, making a single deposit for tuition and fees at an institution is rather routine. However, when an institution enjoys a positive reputation and attracts more international students, keeping track of hundreds or even thousands of payments made one at a time by international students, can be a big challenge.