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Rapyd & PayMyTuition partner to make higher education accessible to global students

By Pavithra R

August 12, 2020

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Rapyd, a global FinTech as a Service company, has announced that the company has partnered with PayMyTuition, a leading provider of technology-driven global payment processing solutions for international tuition payments. The alliance expands PayMyTuition’s ability to accept payments via bank transfers from several countries in Latin America (LATAM) and Asia Pacific (APAC) through Rapyd’s platform, using single API integration.

The collaboration is expected to allow users in Latin America and APAC to transfer funds to over 600 universities in the U.S. and Canada, expediting settlement of tuition and fee payments to educational institutions for seamless enrollment of international students. Rapyd’s expertise in global cross-border and local payments will bolster PayMyTuition’s presence in these regions by providing access to networks of banks in several countries in LATAM and APAC, increasing cost efficiencies and providing the ability to collect funds in local currencies while settling in the U.S.

“We are thrilled that PayMyTuition has selected Rapyd to further expand their payments technology across Latin America and APAC, and we are very excited to partner with such a forward thinking and technology driven company as we expand our strategic partnerships into the education services industry. We’re confident that our in-depth local expertise and broad network reach will help accelerate PayMyTuitions’ global facilitation of tuition payments for international students whether online or on-campus,” said Vinay Shiriwastaw, Head of Sales for the Americas at Rapyd.

The Rapyd Collect platform enables companies to assist consumers who prefer to transact with local payment methods such as e-wallets, local cards, bank transfers, and cash. The services offered via the Rapyd Collect platform is to be launched in LATAM with countries including Argentina, Mexico, Colombia, among others and with plans to expand into Indonesia, Vietnam, Malaysia, the Philippines and additional countries in the APAC region where the drive for tuition remittance services into the U.S. is escalating.

“We are excited to partner with Rapyd in order to expand our presence, in both LATAM and APAC, to deliver fast, reliable tuition payments to educational institutions across North America, growing our presence even further around the globe. This partnership supports our company’s overall initiative to ensure the delivery of best in class local experiences for our customers looking to send international tuition payments abroad, while ensuring the transactions are fast, secure, and cost-efficient,” said Arif Hariji, Chief Market Strategist at MTFX Group.

Recently, Rapyd introduced All-In-One Payment integrated solution in Mexico.

Established since 1996, Ontario based PayMyTuition is part of the MTFX Group of Companies. MTFX’s client base includes educational institutions, large multi-national corporations, credit unions and banks, charities, law firms and travel firms.

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