Vertical payments company Flywire has announced a strategic partnership with the Beijing Overseas Study Service Association to expand the availability of Flywire’s cross-border payment services to Chinese students travelling abroad.
In addition, the partnership aims to provide a secure tuition payment channel for education recruitment agents, schools and students.
“No one knows more about the international education sector in China than BOSSA”
BOSSA plays a critical role in student recruitment and BOSSA’s 300 member agents are responsible for recruiting and advising approximately two-thirds of all Chinese students studying abroad each year.
According to the company, imposters claiming to represent schools gain the trust of families, collect tuition fees and then disappear, creating big problems for both students and schools.
BOSSA and Flywire have been collaborating on this issue over the last 12 months to create awareness with both universities and students in China and to offer a trusted payment channel.
“Flywire offers state-of-the-art technology and services for cross-border payments,” said Jon Santangelo, BOSSA spokesperson.
“We are pleased to endorse them to Chinese education agencies, and China’s wider international education sector as a whole.”
“No one knows more about the international education sector in China than BOSSA,” added Sharon Butler, EVP of education for Flywire.
“They’ve been an outstanding partner to date, and we look forward to expanding on that relationship to create even stronger and more meaningful relationships with Chinese students, education agents and industry professionals.”
Flywire has also announced new enhancements to its digital payment platform to better serve education recruitment agents and institutions worldwide.
According to Flywire, the new platform enhancements will help agents better manage student information and streamline payment tracking while also enabling education institutions to optimise agent relationships and minimise potential fraud.
The company already partners with education agents including ACIC, AUG Study, Global Education Alliance, Global Reach, iae Global, IDP Education and KC Overseas Education.
The enhancements include a customisable dashboard providing agents with the ability to directly send payment reminders to students.
It also provides real-time visibility into the status of all student payment requests; status of all payments made to institutions including payment methods; and secure access to all student payment details.
“Education agents play a very important role in the relationship between institutions and their international students,” said Butler at Flywire.
“By enhancing our agent platform, we are helping to not only streamline the international student recruitment process, but also optimise the way agents engage with both students and schools worldwide.”