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PEERTRANSFER SELECTED AS A 2011 MITX INNOVATION AWARDS FINALIST

peerTransfer Education- International Student Payment Processing Solution – Recognized for Innovation

Cambridge, MA – May 17, 2011 – peerTransfer, a premier provider of global payment solutions, today announced that its recently launched service, peerTransfer Education has been selected as a finalist in the “Best Consumer Tech that Makes Life Easier” category for the MITX Innovation Awards. Held annually by the Massachusetts Innovation & Technology Exchange, the MITX Innovation Awards celebrates the innovations powering the future of marketing and revolutionizing the way we work and play.

“This year’s finalists blew us away with their creativity, ingenuity and passion for innovation. They are truly reflective of the many exciting things that are driving our industry right now,” said MITX president, Debi Kleiman. “We’re proud to showcase the region’s top innovations through this Awards program – giving these innovators a place to shout loud and proud about what they’ve achieved,”

Launched earlier this month, peerTransfer education is an online payment processing service that simplifies international tuition payments, and provides significant time and cost savings for international students and their US-based schools. peerTransfer enables these savings by collecting tuition or related payments in a student’s home currency, offering wholesale foreign exchange rates and eliminating transaction fees. The result is significant cost savings as compared to wire transfer solutions from traditional banks – up to thousands of dollars for a single year’s tuition. In addition to the student savings, peerTransfer helps colleges reduce administrative overhead by ensuring the fast and accurate delivery and posting of funds. Currently implemented at several leading higher education establishments, peerTransfer is provided to schools at no cost and can be set up for the school in just a matter of hours.

“We are thrilled to be recognized for our innovation by an association of MITX’s caliber. At peerTransfer, we strive to think differently as it relates to international payments, and aim to make the lives of international students easier, while saving them money," said Iker Marcaide, founder and CEO of peerTransfer. “Founded as a direct result of my own personal experiences as an international student, our mission is simple: make international student payments simple, secure and cost-effective.”

peerTransfer will be recognized with the other finalists in the category of the “Best Consumer Tech that Makes Life Easier” at the ceremony traditionally attended by over 350 of the region’s top interactive marketing and technology professionals. Winners will be announced at the ceremony in the Westin Boston Waterfront on Thursday, June 16th at 6pm. Tickets can be purchased at www.mitxawards.org/innovation.

The 2011 MITX Awards are sponsored by: Digitas, Isobar, The Atom Group, DLA Piper, PricewaterhouseCoopers, Boston Innovation, and Metropolis Creative.

About peerTransfer
peerTransfer is the pioneer in development of innovative global payment solutions. Its first offering, peerTransfer Education is targeted at the higher education market and has been proven to save schools and their international students a significant amount of time and money when making school payments (tuition, fees, etc.) Unlike traditional banks, peerTransfer is able to offer wholesale foreign exchange rates, which equates to a significant amount of savings for the students. The company was founded in 2009, is headquartered in Boston, Mass., with additional offices in Europe, and is backed by leading international investors (including Spark Capital, a $1 billion venture capital fund). The company has received several awards including winning the HIT Barcelona 2010 Innovation Summit and named as one of the “5 big ideas in Boston” by Xconomy.

About MITX
Established in 1996, MITX — the Massachusetts Innovation & Technology Exchange — is the leading industry organization focused on the web and mobile, bringing together the digital marketing, media and technology community to engage in what’s next and how it will impact the marketing and business worlds. Connecting more than 7,500 professionals in New England, MITX is a dynamic community of thought leaders and collaborators in search of insight, education and opportunity. Creator of FutureM, MITX is located in Cambridge, MA. For more information, visit http://www.mitx.org/.

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