September 7th, 2021 – Toronto; New Jersey City: PayMyTuition, a leading provider of technology-driven global payment processing solutions for tuition payments, announced today a partnership with dLocal, a FinTech provider that specializes in cross-border payments for emerging countries, to expand PayMyTuition’s ability to accept payments via bank transfers from Mexico, Argentina, Peru, and Nigeria as well as integrating dLocal’s plethora of 600 different payment method capabilities.
Leveraging dLocal’s best in class cross-border payments platform will support PayMyTuition’s ability to provide students to quickly and easily transfer funds to over 600 universities in the United States and Canada, expediting settlement of tuition and fee payments to educational institutions for seamless enrollment of international students while significantly reducing friction from the user experience.
Through the “One dLocal” concept (one API, one platform, and one contract), PayMyTuition is expanding its capabilities to further power educational institutions to accept payments, send pay-outs and have the ability to settle funds globally. The integration was completed in less than a month and includes access to dLocal’s plethora of over 600 local payment methods across Africa and Latin America, eliminating the need for additional integrations in the future.
“We are proud to be working with PayMyTuition to expand a simple and smooth access to education - from anywhere,” said Maia Grauer, VP Head of Account Managers at dLocal. “We have extensive experience across both Latin America and Africa, supporting hundreds of clients embracing the full potential these markets offer, and we look forward to putting that expertise to work in helping PayMyTuition achieve success in these regions.”
PayMyTuition’s innovative platform enables students to access a unique customized experience to make tuition payments that supplies them with various payment methods, providing both payment and timing flexibility to students all around the globe. PayMyTuition guarantees payment to the school with tracking transparency for students within 24 hours, faster than the two to four-day settlement wait time of competitors in the category. The process is simple, students fill in the amount they want to transfer to the university, select the country of origin, and finally choose their preferred payment method.
“We are excited to partner with dLocal in order to expand our capabilities across Mexico, Argentina, Peru, and Nigeria, growing our presence even further around the globe,” said Lucas Laracy, Director of Sales at PayMyTuition. “At PayMyTuition our focus is to develop industry-first solutions that deliver fast and reliable tuition payments to educational institutions across North America. This partnership supports our company’s overall initiative to ensure the facilitation of best-in-class local experiences for our customers looking to send international tuition payments abroad, while ensuring the transactions are secure and cost-efficient.”
PayMyTuition is focused on putting technology first and continues to bring innovative solutions to the marketplace without restrictions or exclusivity agreements to support partner institutions within the ever-changing student payments landscape. PayMyTuition’s international tuition payment solution can be directly and seamlessly integrated, by way of a real-time API, into most student information systems including Banner, Colleague, PeopleSoft, Workday, and Jenzabar.
PayMyTuition is part of the MTFX Group of Companies, a foreign exchange and global payments solution provider with a track record of 25+ years, facilitating payments for over 8,000 corporate and institutional clients across North America. Last year MTFX Group processed over 10 billion in currency exchange across 220+ countries in over 120 different currencies. MTFX has built its reputation on amazing people and great technology. Using a blend of “high-tech” and “high-touch” solutions, MTFX has grown to become a leader in online foreign exchange and global payment services across North America. In addition to offering incredibly competitive currency exchange rates, MTFX’s “high-touch” 24/7 multilingual customer support ensures that every transaction not only meets but exceeds the level of service our customers expect from us. MTFX is headquartered in Toronto, Canada with its US headquarters in Jersey City, NJ. For more information please visit www.paymytuition.com and www.mtfxgroup.com
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. Learn more at https://dlocal.com/