We’re pleased to announce our plans to open a new office in Shanghai, China in support of our continued growth in the country. We plan to work with local partners to enable tuition payment services to be made on behalf of Chinese students that attend colleges or universities in North America, Europe and Australia.
More than 60 percent of foreign students studying in the U.S. come from Asia, with 28 percent coming from China. We have been performing transfers for China for about three years, and with the help of our services, Chinese students have quicker access to tuition payments as well as access to digital services where the payments can be tracked. Students have options for payment methods, such as bank transfers, credit and debit cards and digital wallets.
Expanding our presence is a strategic move that will ensure the growing Chinese student population and their educational institutions abroad have the tools they need to make the international tuition payment process fast, easy, and efficient. The new office also enables Flywire to work more closely with our existing Chinese payment and banking partners and will be responsible for customer support in one of our largest markets.