Flywire Extends Leadership Position in International Payments for Education
(Thomson Reuters ONE) -
BOSTON, July 13, 2017 (GLOBE NEWSWIRE) -- Flywire, a leading provider of
international payment and receivables solutions, continued its strong growth in
the education sector in the recently completed fiscal year ending June
30, 2017. Over the last year, the company achieved record results in payments
processed, and institutions and students served. Flywire also added new payment
alternatives with several new partnerships, and expanded its global operations.
The company has built a robust business serving educational institutions around
the world since 2011 and has established its platform as the preferred solution
for international payments and receivables processing. Schools use it to offer
students and their families a highly-tailored, international payment experience
- customized by country, currency and institution. In addition, school financial
and operations teams benefit from streamlined reconciliation and tracking of
international payments.
Several milestones demonstrate the company's strong performance in the education
sector over the last year:
Sharp Increases in Cross-Border Education Payments, Clients and Students
* Since its founding, Flywire has processed over $5 billion in educational
payments.
* The number of education-related transactions grew 250% in APAC/EMEA
combined, compared to the previous fiscal year.
* The company added over 300 new educational clients, bringing its total to
over 1,300.
* Northeastern University, Kent State University and the University of Hawaii
are some of the latest schools to offer Flywire as the preferred payment
service for their international students.
New Partnerships Expand School and Student Choice
* PayPal - In June, Flywire added PayPal Wallet to its payment options for
students and families in Canada, the European Union, the United Kingdom and
the United States. Integration between the solutions streamlines payment
reconciliation for schools and gives students and families another popular
and convenient option when making international payments.
* Cashnet/Blackboard - In late May, Flywire entered into a strategic
partnership with Cashnet, a Blackboard company. The agreement integrates the
Flywire and Cashnet solutions and enables Cashnet to offer support to both
companies' many mutual education clients. The collaboration also makes it
easy for schools to leverage the full capabilities of both solutions to
streamline the payment and reconciliation process.
* First Data - In early May First Data and Flywire formed a reciprocal
referral relationship, providing clients with a seamless integration between
Flywire's international payment and receivables platform, and First Data's
vast client network and technology solutions. The partnership significantly
expands card payment options for Flywire clients and enables First Data
education clients to leverage the Flywire platform to accept large sum
international payments from their customers, while providing added
transparency and easier reconciliation.
Expanded Global Operations
* In August 2016, Flywire opened a new office in Sydney, Australia to support
its growing local operations there. Australia is the third most popular
destination in the world for international education behind only the United
States and the United Kingdom. The move builds on Flywire's existing Asia-
Pacific presence in Shanghai, Singapore and Tokyo, and strong growth
worldwide.
"International education is big business and sending and accepting international
tuition payments has become exceedingly complex in today's global marketplace,"
said Mike Massaro, CEO of Flywire. "Our focus is on taking all the friction out
of those transactions for both students and schools and making them as easy and
familiar as any domestic payment."
About Flywire
Flywire is a leading provider of international payment solutions, connecting
businesses and institutions with their customers on six continents. Introduced
six years ago as a way for international students to pay their tuition for
studies abroad, Flywire is now used by over 1,300 organizations across 18
countries around the world. The company processes billions in payments per year
from 220 countries and territories, via bank transfer, credit card and e-wallet
solutions, in over 120 different local currencies. Convenient, fast and secure,
Flywire's scalable platform provides currency conversion at exchange rates that
can offer significant savings when compared to home-market banks and credit card
providers. The company also supports its clients with end-to-end customer
support including multilingual servicing via phone, email, and chat, as well as
24/7 online payment tracking.
Flywire is headquartered in Boston, MA with international operations in London
and Manchester, UK; Shanghai, China; Tokyo, Japan; Singapore; Sydney, Australia;
and Valencia, Spain. For more information, visit www.Flywire.com.
Media Contacts:
for Flywire
Tim Walsh
Walsh Group Marketing
617.512.1641
timw(at)walshgroupmarketing.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Flywire via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2017 - 14:04 Uhr
Sprache: Deutsch
News-ID 552310
Anzahl Zeichen: 6102
contact information:
Town:
Boston
Kategorie:
Business News
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