peerTransfer Rolls Out International Payment Solution to the K – 12 Education Market
peerTransfer, the leading provider of innovative global payment solutions for the education industry, has extended its focus beyond higher education into the K – 12 education market. Due to growing demand, peerTransfer has already partnered with several boarding schools including Culver Academy, The Harker School and Phillips Academy – Andover.
The market potential for international students attending K – 12 institutions is considerable, with The Association of Boarding Schools (TABS) listing over 13,000 international students enrolled in boarding schools across North America. According to The Boarding School Review the average annual cost for tuition at boarding schools is $42,500, indicating that international students are responsible for bringing in nearly $550 million dollars per year for education to the U.S. The K – 12 market is actively adopting an already successful international payments model that peerTransfer has rolled out to over 200 higher education institutions.
“The number of international students attending boarding schools in the U.S. and Canada has grown over 25 percent over the last decade. This growth has spurred new school and commercial services to better support international families,” commented Pete Upham, executive director of TABS.
Iker Marcaide, CEO of peerTransfer, remarked, “International payments are extremely frustrating for students and their families as well as school administrators. We aim to offer them an alternative solution to the traditional banking system which is incredibly inefficient, outdated, and costly.”
peerTransfer brings convenience to the international payment experience by guaranteeing the best exchange rates, offering 24×7 multilingual customer support, and giving students as well as their schools the ability to track payments throughout the transfer process. Schools also benefit through a more streamlined reconciliation process including the ability to integrate international payments directly into their existing ERP systems.
“peerTransfer’s service is impeccable and efficient. They make my job easier,” commented Marie Ferraguto, treasurer for Phillips Academy – Andover.
peerTransfer is currently partnered with over 230 schools and has processed payments from over 170 countries. peerTransfer plans to maintain the growth momentum with the focused goal of helping both its partner schools and their international students navigate the process of making and reconciling international payments in the most efficient way possible.← Back to Articles