Flywire partners with Mastercard to simplify cross-border tuition payments

By Pavithra R

Flywire, a leading vertical payment company, has announced a partnership with Mastercard to provide international students with discounted foreign exchange rates on cross-border tuition payments made with Mastercard. 

The offer, which is to be available during the 2020 Fall is for students originating from Kenya, Ghana UAE, Saudi Arabia, Qatar, and Kuwait attending any school that offers Flywire as a preferred payment method for international tuition. 

“We are delighted to announce this partnership with Flywire. This initiative will allow millions of parents and students to pay their fees securely, seamlessly and at the most competitive rate. We are committed to continuously evolve the digital payment infrastructure to further support the students’ educational journey,” said Gaurang Shah, Senior Vice President, Product Management, Digital Payments & Labs, Middle East and Africa – Mastercard.

The partnership will enable students to make their international tuition payments in their local currencies using Mastercard credit or debit cards as the lowest cost card payment option with Flywire.

Flywire has vertical-specific insight & technology that allows organizations to optimize the payment experience for their customers while eliminating operational challenges from invoicing to payment reconciliation. The company is revolutionizing student financial services with a comprehensive receivables solution that is backed by a powerful global payment network and 24×7 multilingual support.

“Our client schools and their student families around the world trust Mastercard for convenient and secure payments. We’re pleased to continue to partner with Mastercard on special offerings like this one to ensure a seamless digital payment experience while passing on valuable savings to reduce the cost of international education,” said Mike Massaro, CEO of Flywire. 

Recently, Flywire announced  partnership with Chinese education association BOSSA.

Founded in 2011 as PeerTransfer, Flywire removes the boundaries in the transaction through its solutions that enable the global payment and receivables process. The company recently secured $120 million in Series E and acquired Simplee.