Provides modern international education payment capabilities to the growing number of Brazilian students studying abroad
Connects education agents, institutions and students via digital platform
BOSTON and LONDON and SAO PAULO, Brazil, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Flywire, a high-growth vertical payments company, and BELTA, the Brazilian Educational & Language Travel Association, announced a new strategic partnership which expands the availability of Flywire’s cross-border payment services to Brazilian students studying abroad. The collaboration also provides a secure and trusted global payment channel to ensure tuition and other expenses are seamless between education recruitment agents, schools and students.
Brazil is one of the fastest-growing origination markets for international students. According to BELTA Seal Market Research 2020, 386,000 Brazilian students studied abroad in 2019, spending US $1.3 billion. Popular destinations included Canada, the US, UK, Ireland and Australia. Agents play a key role in the market with roughly 86% of outbound Brazilian students acquiring their programs through an education agency.
Founded in 1992, BELTA brings together the institutions and agencies in Brazil that work with international exchange programs and experiences for the purpose of qualifying and expanding awareness and knowledge about them. BELTA currently represents more than 600 agencies in Brazil and more than 80% of the Brazilian students studying abroad. Its focus is on guiding students and professionals on the best study and training alternatives abroad and controlling the quality of services provided by education recruitment agencies. BELTA also works with recruitment agents to promote Brazil as a destination for students outside of Brazil.
Flywire is the payment provider of choice for students and education institutions around the world. Its solution enables schools to offer students a highly-tailored, convenient and secure online payment experience – customized by school, country, and currency – while also accelerating funds flow, easing reconciliation and streamlining operational expense. Flywire has a long history of working with education recruitment agents worldwide.
Transparency is an increasingly important requirement for agents, students and schools needing to track payments, calculate commissions and reconcile international receivables. Flywire’s comprehensive solution for education offers agents the ability to better manage student information and streamline payment tracking while also enabling education institutions to optimize agent relationships and minimize potential fraud. Some of the key capabilities benefitting agent organizations include:
- Seamless integration with agent websites, reducing friction and adding a convenient and trusted payment experience for students
- Increased visibility for agents, payers and schools, both on payments and reimbursement processes, with real-time status updates
- Centralized student information on a single platform to store, manage, import and export data
- Robust fraud capabilities which prevent unauthorized vendors from acting as agents, and secure delivery of payments to education institution accounts
- Access to favorable foreign exchange rates, protecting students from unnecessary costs
- Full compliance with new Brazilian General Protection Data laws
“Agents play a key role in connecting Brazilian students with the best international study opportunities,” said Maura Leão, BELTA’s President. “Flywire’s modern digital payment platform and comprehensive global services simplify the way our agents engage with schools and students and streamline the experience for all involved. We’re very pleased to be partnering with them.”
"BELTA has established a clear leadership position in the Brazilian market because of the outstanding quality of its agent organizations and their unwavering dedication to helping students find the right educational opportunities abroad,” said Sharon Butler, EVP of Education for Flywire. “Their agents represent our client schools exceptionally well and we are very pleased to partner together to create more quality educational opportunities abroad for students originating from Brazil.”
Resources:
- Embarking on Life’s Most Important Moments: A Flywire Video
- Flywire for Education Agents: Platform Capabilities
About Flywire
Flywire is a high-growth vertical payments company trusted by organizations around the world to deliver on their customers’ most important moments. Unlike other companies, Flywire is proven to solve vertical-specific payment and receivables problems for organizations that deliver high-value services. Whether in education, healthcare, travel or technology, Flywire has vertical-specific insight and technology that allows organizations to optimize the payment experience for their customers while eliminating operational challenges. To date, Flywire has processed over $16 billion in total payments volume for over 2,000 clients around the world. The company is headquartered in Boston, USA and has offices around the world. For more information, visit www.flywire.com. Follow Flywire on Twitter, LinkedIn and Facebook.