Flywire has announced plans to partner with Mastercard in providing discounted foreign exchange rates on cross border tuition payments for students.
This is according to a news source verified by Nairametrics. The offer will be accessible to any school in the world offering Flywire as a payment method for international tuition through the 2020 fall term for students from the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Kenya and Ghana, the release stated. Students will be able to use their own currencies to pay through Mastercard credit or debit cards.
Tertiary education, as pretty much every other area, has been affected by the pandemic, with grounds to shut down early this year. The unique feature of this payment system is convenience and safe payment procedure coupled with a customizable experience it provides for international students.
Speaking on the new deal, Mike Massaro, CEO of Flywire, said the organization would serve to raise up understudies through cost-effective measures.
“Our customer schools and their understudy families around the globe trust Mastercard for advantageous and secure installments,” said Massaro in the delivery. “We’re satisfied to keep on joining forces with Mastercard on unique contributions like this one to guarantee a consistent advanced installment experience while giving significant reserve funds to lessen the expense of worldwide training.”
For International students, rules are significantly murkier as new U.S. visa rules won’t let them go to class in the country except in any event one class happens face to face. That represents an issue for schools as worldwide understudies have commonly paid full educational costs in advance, giving gigantic incomes to schools. In that capacity, schools need to scramble to make bargains and oblige understudies to urge them to return.