Digital payment company Flywire has announced an expansion of its education payments business in Latin America.
The extended capabilities will meet a growing demand of Latin American students studying abroad, as well as help the region’s universities attract more international students, according to the company.
“Latin America represents an exciting opportunity for Flywire as both a source market for schools abroad and as an increasingly popular destination for students traveling from North America and Europe,” said Rafael Ayala, managing director of Latin America at Flywire.
“We believe the combination of our technology and robust payment network, together with our partner ecosystem and deep knowledge of the higher education vertical and local cultures makes us well suited to build our footprint in this region at scale.”
Key countries included in the expansion are Brazil, Colombia, Mexico, Peru and Chile, and Flywire has allocated dedicated resources for client support, payment management, business development and sales.
The global payments-enablement and software company added that the region is an “increasingly important” student recruitment market thanks to its growing middle-class.
Additionally, students from North America and Europe – as well as intra-regional mobility – is making Latin America a desirable study destination.
The Flywire payments platform enables schools and education agents to offer a highly-tailored, convenient and secure digital payment experience to their students, and promises to accelerate funds flow, ease reconciliation and streamline operational expenses.
In Latin America, Flywire supports 32 different local currencies and a variety of different local payment methods.
Flywire has a long history of working with education agents around the world and is currently working with BELTA in Brazil.