Adyen & Flywire partner to bolster global payment capabilities for vertical industries

By Pavithra R

Adyen, the payments platform built for growth and Flywire, a leading vertical payment company, has announced a collaboration which integrates Adyen into Flywire’s global network of payment partners.

Through the partnership, Flywire’s customers, predominantly, organizations in the education, healthcare, and travel industries, will benefit from:

• Extended range of service supporting more global markets with an increased number of local payment methods and currencies
• Expanded capabilities, including additional support for recurring billing transactions and stronger fraud identification through Adyen’s risk management product, RevenueProtect.

“The global recession triggered by COVID-19 has thrust payments into the spotlight. The ability to pay whenever and however they choose has become a pre-requisite for consumers looking for a familiar, secure and transparent payment experience, particularly for high-value expenses like tuition fees or a package holiday,” said Darren Woodward, Senior Director of Payments, Global Cards Network at Flywire.

“This means we must offer our clients global reach with the comfort of local payment methods, currencies and support for their clients, as well as state-of-the-art fraud protection and security. Our partnership with Adyen ensures that organizations we work with can deliver the payment experience their customers not just expect but increasingly demand,” added Darren.

The collaboration is aimed at delivering the latest payment functionality to facilitate seamless customer journeys for students, patients, and global travellers. Together, the companies will bolster payments innovations and drive process improvements for the vertical industries that the 2 companies collaboratively support, on a global basis.

“The current economic climate means it’s never been more important to understand local currencies and preferred payment methods. Offering customers the ways they prefer to pay is crucial, especially when selling to international customers. If we think of the example of paying for tuition fees for overseas students, it’s paramount that such an important payment can be made in a method the student or parent trusts. We are thrilled to be working with Flywire to do just that,” said Roelant Prins, CCO of Adyen.

Founded in 2011 as PeerTransfer, Flywire removes the boundaries in the transaction through its solutions that enable the global payment and receivables process.