Flywire and Cashnet Team Up to Improve Global Payments for Schools
Flywire, a leading provider of cross-border payment solutions, and Cashnet, a leading payment platform solution for educational institutions, recently announced a new strategic partnership to give international students and their families more options when paying for studies abroad.
The partnership will enable schools to streamline education-related payments while enhancing the user experience for international students and their families.
Flywire provides a cloud-based platform and support services for large, international payments, making them convenient, cost-efficient and transparent for payers and receivers.
Cashnet, a Blackboard company, provides secure and simplified payment solutions for institutions, students, and their families including electronic billing and flexible tuition payment plans.
The integration will streamline payment reconciliation for institutions, and give international students and their families more options when using the Cashnet platform to pay for education-related expenses.
“We’re pleased to integrate Flywire into the Cashnet platform thus providing international students and families more options when paying for school,” said Matthew Dorf, Vice President of Payment Sales and Development. “By providing payment tools that make it easier for a student or parent to manage finances, we continue our important mission of helping to provide fundamental access to education for students across the globe.”
Between 2015-2016, there was a 7 percent increase over the prior year in the number of international students in the US, according to the Institute of International Education.
With this rise comes a need for more convenient and flexible tuition payment options. The partnership will give institutions and students a wide range of tuition payment options.
“The Cashnet platform has always been a well-respected solution within our client base and an important way for schools to make it easier for students and families to pay,” said Sharon Butler, Executive Vice President, Education Segment, at Flywire. “With our partnership, Cashnet can provide integrated support to our many mutual clients and enable them to leverage the full capabilities of both solutions to enhance the payment experience while streamlining the reconciliation process.”