SYDNEY, Australia, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Flywire is providing students and their families discounted prices on cross-border tuition payments made with Mastercard this school season. The offer is available now to international students originating from 11 countries and attending any school around the world that offers Flywire as a preferred method for international tuition payments. The program will help students and families take a small bite out of the high cost of education while benefitting from the global reach and safety and security of Mastercard.
The offer is available through September 30, 2017 to all students coming from Australia, Canada, China, Hong Kong, Korea, Mexico, Malaysia, Russia, Saudi Arabia, the UAE, and the United States. During this time, students will be able to make their international tuition payments using Mastercard credit or debit cards as the lowest cost card payment option with Flywire.
Today, there are more than five million students studying at institutions outside of their home countries according to StudyPortals, a global education research organization. That number is expected to grow to seven million by 2022. As international education has grown, so too has the problem of initiating and processing cross-border tuition payments.
Flywire 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. Since its founding, Flywire has processed over $5 billion in educational payments for over 1,300 schools.
“Mastercard is an iconic global brand that our client schools and their student families trust for convenient and secure payments anywhere around the world,” said Mike Massaro, CEO of Flywire. “We’re pleased to join forces with Mastercard on this unique offering to provide a better payment experience and pass on even greater savings to reduce the cost of international exchange.”
“Mastercard’s partnership with Flywire provides a more streamlined and cost effective way for parents and students to pay for tuition,” said Linda Kirkpatrick, executive vice president of U.S. Market Development for Mastercard. “This promotion targets Flywire’s extensive global network in the education space, and enables new acceptance of electronic payments in a vertical with significant opportunity for growth.”
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.