Toronto, New Jersey City, December 8th 2020: Worldline [Euronext: WLN], the European leader in the payments and transactional services industry has partnered with PayMyTuition in its mission to simplify tuition payments for international students and the universities they attend. Worldline provides its services through Ingenico which is part of Worldline since October of 2020 and offers merchants smart, trusted and secure solutions to empower commerce.
PayMyTuition, a leading provider of technology-driven global payment processing solutions for tuition payments, integrates directly into universities’ student information and accounts payable (AP) systems. As a result, students pay for their tuition and receive their refunds faster, and without additional fees, with colleges and universities saving time, resources, and money.
International students enrolled in higher education courses away from home have increased from 2.1 million to 5.3 million since 2001, according to educationdata.org. In 2019, the United States alone had more than 1 million international students enrolled in its colleges.
Bank transfers are a preferred payment method for many demographics and now Worldline’s localized payment offerings are giving Canada-based PayMyTuition’s 600-plus educational partners expanded reach to accept even more bank transfers across five continents. International students will no longer be limited by payment options when it comes to choosing a college or university to attend.
Students from more than 35 countries have already taken advantage of the ability to pay their tuition via bank transfers, including Australia, Hong Kong, Russia, France, Japan, the Netherlands, and Mexico.
Worldline’s leadership in PSD2 compliance, extensive suite of payment options, and effortless integration process make it an ideal partner for PayMyTuition in understanding its needs for a truly global solution.
Arif Harji, Director and Chief Market Strategist at MTFX Group (parent company of PayMyTuition), explained: “Thanks to this integration with Worldline, we are able to expand upon our existing reach across five different continents to support partner institutions and their international students, allowing us to grow our impact even more around the globe. The partnership with Worldline also allows us to expand upon our existing set of multiple payment options, offering students choice in their preferred payment method, while giving universities and colleges the ability to attract more students around the world. The more choices that students have in paying for their higher education, the better.”
Andrew Monroe, Global Head of Gaming & Media, Digital Commerce, Merchant Services at Worldline added: “Were excited to be partnering with PayMyTuition. Global expansion brings the challenges of reaching a broader customer base with a set of distinct payment preferences. In the tuition payments industry, customer experience and a range of payment methods are the quintessential differentiator for delivering a world-class experience, so we are especially thrilled about this partnership and look forward to expanding into other regions.”
Going forward the partnership will be working with colleges and universities to help them save time, resources, and money, while allowing students to pay in the ways best suited to them.
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. 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.
Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2019 Worldline generated a proforma revenue of 5.3 billion euros. worldline.com