MasterCard and Transforex team up for students

Cooperation offers traveler's checks to those heading overseas for education

MasterCard Inc is offering traveler's checks for Chinese students headed abroad in cooperation with Transforex (Hong Kong) Investment Consulting Co Ltd and the International Student Identity Card Association, the United States-based card company said in Shanghai on Tuesday.

More than 410,000 Chinese were studying abroad as of the end of last year, and the number may exceed 1 million in the next few years, according to the Ministry of Education.