Universidad Uk, headquartered in Mexico, is a 100% online institution that offers high quality education programs at accessible prices. The school currently offers 13 different academic programs to students in Bolivia, Chile, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Mexico, Paraguay, Peru, Spain, and the United States. The institution offers a comprehensive selection of undergraduate degree programs including Accounting, Business Administration, Communication, Digital Marketing, Economics, Finance, Human Development & Coaching, Industrial Engineering, Pedagogy, and Systems Engineering. Its Master’s degree programs include Business Administration (MBA) and Technologies for Education (Edtech). The school will also offer diploma programs in Cryptocurrencies, Artificial Intelligence and Tax Law.
The accessibility of the university’s online curriculum makes it very appealing to international students, but the complexities of cross-border payments proved challenging as the institution looked to expand its student base across Latin America. In addition, with many students not having credit cards, the school was looking for a payment partner that could seamlessly offer other local payment options to ease the payment process while reducing the manual workload for the school’s finance team.
After researching different international student payment options, Universidad Uk started working with Flywire in 2021. Flywire’s extensive global presence and modern digital payments platform provided the school with the ability to seamlessly offer students in different countries multiple payment methods (debit card, credit card, transfers) in their local currencies. With support for more than 140 currencies across 240 countries and territories, Flywire’s powerful global payment network enables the school to easily receive, process and reconcile payments worldwide.
By making it more convenient for international students to make payments, Flywire is helping Universidad Uk reach more countries in Latin America with greater ease. In addition, the institution no longer has to worry about setting up a company in each country or registering a new platform in each market. This improves operational efficiency while also providing the school’s finance team the confidence that Flywire will be able to handle payments from students in any country. Furthermore, Flywire provides around-the-clock multilingual support for payment-related questions, saving additional staff time.
By partnering with Flywire, Universidad UK has been able to improve student experience and drive results.
Universidad’s international reach continues to grow:
- To date, thousands of cross-border international payments from eleven countries in eight different currencies have been securely processed by the institution using Flywire’s global payment network
- The school saw the number of transactions on the Flywire platform increase by more than 600% in just seven months
- In 2021, 14% of Universidad Uk’s students came from Latin American countries. By July 2022, that percentage had grown to 35%. The school expects that number to reach 40% by the end of 2022.
Flywire has allowed us to quickly reach more countries in Latin America with greater ease and without worrying about setting up a company or registering a new platform in each country.