Cashnet

Flywire and Cashnet Team Up to Improve Global Payments for Schools, Students and Families

New partnership offers streamlined payment reconciliation for schools and a simple user experience for international students

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| Source: Flywire; Cashnet

BOSTON and NEW HAVEN, Conn., May 11, 2017 (GLOBE NEWSWIRE) -- Flywire, a leading provider of cross-border payment solutions, and Cashnet, a leading payment platform solution for educational institutions, today announced a new strategic partnership to give international students and their families more options when paying for studies abroad. The partnership will enable schools to streamline education-related payments while enhancing the user experience for international students and their families.

Flywire provides a cloud-based platform and support services for large, international payments, making them convenient, cost-efficient and transparent for both payers and receivers. Cashnet, a Blackboard company, provides secure and simplified payment solutions for institutions, students and their families including electronic billing and flexible tuition payment plans. The integration will streamline payment reconciliation for institutions, and give international students and their families more options when using the Cashnet platform to pay for education-related expenses.

“We’re pleased to integrate Flywire into the Cashnet platform thus providing international students and families more options when paying for school,” said Matthew Dorf, Vice President of Payment Sales and Development. “By providing payment tools that make it easier for a student or parent to manage finances, we continue our important mission of helping to provide fundamental access to education for students across the globe.”

In 2015-2016, there was a 7% increase over the prior year in the number of international students in the US, according to the Institute of International Education. With this rise comes a need for more convenient and flexible tuition payment options. The partnership will give institutions and students greater choice when making tuition and fees payments.

“The Cashnet platform has always been a well-respected solution within our client base and an important way for schools to make it easier for students and families to pay,” said Sharon Butler, Executive Vice President, Education Segment, at Flywire. “With our partnership, Cashnet can provide integrated support to our many mutual clients and enable them to leverage the full capabilities of both solutions to enhance the payment experience while streamlining the reconciliation process.”

About Flywire
Flywire is a leading provider of international payment solutions, connecting businesses and institutions with other businesses and consumers 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


for Cashnet/Blackboard
D'Anthony White
Blackboard, Inc.
202-303-9314