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Flywire has partnered with Tencent’s fintech arm, Tencent Monetary Know-how.
The partnership will assist Chinese language college students pay for schooling overseas by way of Tencent-owned Weixin Pay (WeChat Pay).
College students will be capable to pay in their very own forex, whereas the schooling facility will obtain funds of their native forex.
World funds platform Flywire is teaming up with Tencent’s fintech arm, Tencent Monetary Know-how to assist Chinese language college students pay for schooling overseas.
This week, the 2 introduced they plan to permit Chinese language college students and households making schooling funds overseas to pay utilizing Tencent-owned Weixin Pay (WeChat Pay). Flywire anticipates the transfer will additional streamline education-related funds.
“This partnership ensures that for Chinese language college students finding out internationally at establishments that use Flywire, we primarily develop into their ‘pay’ button, by providing localized and seamless fee capabilities, which profit college students, households and establishments alike,” mentioned Flywire Senior Vice President of World Funds and Payer Companies Mohit Kansal. “Flywire has lengthy supplied Weixin Pay as a fee methodology, however the direct reference to Tencent makes the fee expertise extra handy and streamlined.”
The Weixin Pay app– which permits customers to talk, browse, and make funds– is likely one of the hottest digital pockets apps in China. By providing its cross-border schooling funds inside Weixin Pay, Flywire is assembly customers the place they already are. The corporate additionally removes the everyday friction and problems that come up from the cross-border funds expertise.
Utilizing Weixin Pay, college students will pay in their very own forex, whereas their faculty will obtain the funds of their native forex. College students may also have entry to buyer assist in their very own language.
“We’re all the time in search of higher methods to serve our customers,” mentioned Tencent Common Supervisor of Tencent Monetary Know-how Asia Pacific Wenhui Yang mentioned. “Flywire’s current footprint in China, spectacular shopper roster and confirmed know-how made this a pure partnership for us. As extra Chinese language college students are keen to check overseas once more, we’re assured that Flywire will allow our customers to enhance their worldwide fee expertise, and make paying for schooling as straightforward as sending a chat.”
Photograph by Hai Nguyen
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