Flywire joins Tencent to streamline payments in China
By Gloria Mathias
Flywire, a global payments and software company, has partnered with Tencent Financial Technology to extend Weixin Pay, also known as WeChat Pay, as a payment option for Chinese students and families making education payments abroad.
The platform seeks to improve the payment experience for students and families from China, further expanding its digital footprint across China through this direct partnership with Tencent. Flywire further streamlines the payment experience for students looking to make international tuition and other education-related payments from China.
The partnership aims to implement a seamless experience for Chinese consumers using their daily transactions to make cross-border education payments. Weixin Pay is one of the popular digital wallets in China, with consumers embedded into the Weixin ecosystem because it allows them to chat, browse, and make payments all in one place.
“This partnership ensures that for Chinese students studying internationally at institutions that use Flywire, we essentially become their “pay” button by offering localized and seamless payment capabilities, which benefit students, families and institutions alike,” said Mohit Kansal, Senior Vice President of Global Payments & Payer Services at Flywire. “Flywire has long offered Weixin Pay as a payment method, but the direct connection with Tencent makes the payment experience more convenient and streamlined.”
Through Flywire, Chinese students can pay their education institution using Weixin Pay in their own currency, Renminbi. Flywire has ensured payers will receive the added benefit of Flywire’s 24/7 support in their local language.
Wenhui Yang, General Manager, Tencent Financial Technology Asia Pacific said, “We are always looking for better ways to serve our users. Flywire’s existing footprint in China, impressive client roster and proven technology made this a natural partnership for us. As more Chinese students are eager to study abroad again, we’re confident that Flywire will enable our users to improve their international payment experience and make paying for education as easy as sending a chat.”
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