Leading education payments platform partners with Chinese study abroad organization to expand its cross-border tuition payment services in China
BOSSA, China’s international education industry association, and Flywire, a high-growth vertical payments company based in the US, today announced a new strategic partnership. The collaboration expands the availability of Flywire’s cross-border payment services to Chinese students traveling abroad while also providing a secure and trusted international tuition payment channel for education recruitment agents, schools and students.
In a separate announcement, Flywire also announced new enhancements to its digital payment platform to better serve education recruitment agents and institutions worldwide.
BOSSA (the Beijing Overseas Study Service Association) is a non-profit, government-supported organization that supports member agents across China that recruit students for study abroad. Flywire is the payment provider of choice for students and education institutions around the world. Its solution enables institutions 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. The solution also supports the ability to create custom payment plans to provide students and families with greater flexibility.
Flywire has a long history of working with education recruitment agents in China, which is the leading source of international students for universities around the world. BOSSA plays a critical role in student recruitment and service for those students and BOSSA’s 300 member agents are responsible for recruiting and advising approximately two-thirds of all Chinese students studying abroad each year.
International students have been the target of fraudulent activity by bad actors in recent years. 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. The level of integrity they’ve achieved in the higher education field is a big differentiator to Chinese agencies.”
"No one knows more about the international education sector in China than BOSSA,” said 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 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.
The Beijing Overseas Study Service Association (BOSSA) is a nonprofit, government-supported organization. Membership is comprised of 300 accredited Chinese international education agencies of both private and public companies and 1,500+ certified individual counselors who consult or provide services for Chinese students to study abroad. BOSSA was founded in 2004 in affiliation with Chinese governmental authorities. An independently managed organization, BOSSA and its subsidiary COSSA are China's distinctive associations for the professional practice of Chinese student recruitment. They are membership-based nonprofits made up of study abroad agencies, education agents and institutions. BOSSA is headquartered in Beijing; for more information visit www.bossa-cossa.org and follow their latest news updates on LinkedIn.
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