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Flywire Expands Cross-Border Tuition Payment Service in Australia (Yahoo! Finance)

Yahoo! Finance

Flywire, a leading provider of cross-border payment solutions, has expanded in Australia, opening a new office in Sydney to support its local operations. The move builds on Flywire’s existing Asia-Pacific presence in Shanghai, China, Singapore and Tokyo, and strong growth worldwide.

In the most recent academic year, ending June 2016, Flywire saw record results in its business as it continued its expansion in North America, Europe and Asia-Pacific. To date, the company has processed over $3 billion in tuition payments and now serves over 1,100 universities and schools worldwide. In Australia, Flywire currently serves more than 30 schools and universities, making fast, easy tuition payment available to international students traveling abroad each year to attend universities and schools in the country.

Australia is the third most popular destination in the world for international education behind only the United States and the United Kingdom. According to the Australian Government Department of Education and Training, over 507,000 international students were enrolled in Australian schools in August 2016, up 12% from August 2015. China (17%), Malaysia (16%), India (11%), South Korea (8%) and Vietnam (3%) are the leading countries of origin. Australia features eight of the top 100 universities in the world according to TopUniversities.com and the Australian government makes A$200 million available every year for international scholarships.

“Australia is a very popular and growing destination for international education and a key market in our global expansion,” said Mike Massaro, CEO at Flywire. “We are pleased to expand our cross-border payment services here to make the tuition payment process as easy, efficient and transparent as possible for the schools and their international students.”

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