Mastercard to work with Flywire for international tuition payment service

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • The financial services company Mastercard has announced that it will collaborate with the payments firm Flywire on a cheaper offer for international students.
  • The service will be aimed in particular at students from certain countries, including some in the Middle East, such as Qatar, and some in Sub-Saharan Africa.
  • A senior figure at Mastercard said that the firm was committed to making payment processes for students better at every opportunity.

One of the world’s leading financial services companies has announced that it will work alongside a payments firm to offer a discounted tuition payment service to students. 

Mastercard will be working alongside Flywire to provide more cost-effective international money transfers for students looking to pay their tuition fees.

As part of the new deal, students from countries on the approved list who are studying abroad will be able to secure a discount on their fees.

They will be able to pay using the currency in their area, and can process the payment via either a debit or credit card – provided that it is operated by Mastercard.

Their educational establishment will need to have designated Flywire as a “preferred payment method” in order for them to be able to benefit, Flywire said.

The offer will be active during the current term, which runs until Christmas.

In a statement, a leading figure at Mastercard said that the firm is pleased to be working alongside Flywire.

Gaurang Shah, who serves as a senior vice president for the firm covering various areas such as digital payments in the Middle East and Africa region, said that the new arrangement would assist family members as well as those studying.

“We are delighted to announce this partnership with Flywire,” he said.

“This initiative will allow millions of parents and students to pay their fees securely, seamlessly and at the most competitive rate.”

He added that the firm would do all it could to help other students in the future, and would optimise its payments services to help the group.

“We are committed to continuously evolve the digital payment infrastructure to further support the students’ educational journey,” he explained.

On Flywire’s part, the chief executive officer Mike Massaro added that the legitimacy of Mastercard was a big plus to his firm’s client base.

“Our client schools and their student families around the world trust Mastercard for convenient and secure payments,” he said.

Flywire is a major player in the educational online money transfer field.

The educational establishments that use the platform create a bespoke payments experience pathway for students and families to use.

It's tailored according to the geographical region in which the school operates, as well as the local currency.

It is bolstered by high-end safety features designed to ensure that cross-border payments are safe.

Whether you’re a student, a worker or someone else altogether, the perfect online money transfer solution is out there waiting for you – why not check out our reviews section to find out more about what’s on offer?


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