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peerTransfer Welcomes the Indian Rupee and 36 New Partner Schools in Q2 2012

peerTransfer, a leading provider of global payment solutions for international students and their schools, gained the ability to support the Indian Rupee (INR) during the second quarter of 2012. With this new capability Indian students, who according to Open Doors make up 14.4% of the US international student population, can now pay their tuition in INR and peerTransfer will process the payment and deposit US dollars into their school’s bank account. This makes the international payment process much more convenient for Indian students all the while saving them money on currency exchange.

A student from India, who made an international education payment through peerTransfer in INR, recently commented “It’s a simple, economic, reliable, fast and of course paperless way for international students to pay school fees from outside the USA.”

The second quarter of 2012 also brought in 36 new partner schools including Carnegie Mellon University, Tufts University, Texas Tech University, and the University of Arkansas; equating to a total of 147 partner schools using peerTransfer’s international payment solutions at quarter’s end. In an effort to maintain the most robust solution for these schools, peerTransfer began offering them the ability to issue returns to international students simply by logging into their administrator dashboard. Additionally, the company introduced a new student dashboard where international students can create, track and manage all of their international payments.

Speaking of the company’s latest developments Iker Marcaide, CEO of peerTransfer, remarked “During the second quarter we were heavily focused on gearing up for the fall payment cycle and equipping schools and their international students with tools to help the cycle run smoothly.” Mr. Marcaide went on to say, “We are ecstatic to offer Indian students the capability to pay in their local currency – our ability to support the INR is a direct result of our dedication to the education industry and leveraging our global banking network. We will continue to break down barriers and find ways to support the most sought-after local currencies for international students.”

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peerTransfer is the leader in the development of innovative global payment solutions for the education industry. peerTransfer’s solutions have been proven to save schools and their international students a significant amount of time and money when receiving or making international payments. The company offers international students the ability to pay in their home currency and then bundles the payments together to secure wholesale foreign currency exchange rates, which equates to a significant amount of savings for the students. In addition, the free solution helps schools more efficiently manage and reconcile payments. The company is headquartered in Boston, Mass., with additional offices in Europe. For more information, visit www.peertransfer.com.

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