Flywire, a U.S.-based provider of cross-border payment solutions, has teamed up with UBION, an education technology company based in Korea, to streamline the process for international students paying tuition fees.
Through this collaboration, UBION’s existing educational services will integrate Flywire’s comprehensive payment platform. This integration enables parents and guardians of international students to make payments in their local currencies, supporting over 140 different currencies through various payment methods.
The new system is now live, bringing a range of benefits for both students and educational institutions. By offering real-time payment tracking and automated reconciliation, the system aims to minimize delays and reduce manual processes, enhancing operational efficiency.
Furthermore, the partnership provides access to multilingual customer support and leverages Flywire’s robust compliance and security frameworks. This ensures that institutions can address potential risks such as fraud and breaches of anti-money laundering (AML) regulations more effectively.
According to statements from both companies, this initiative simplifies financial transactions for overseas students while reducing administrative burdens on educational institutions. Flywire’s representatives emphasized the goal is to make cross-border tuition payments simpler and more transparent.
UBION officials highlighted that this integration provides a simplified and reliable payment method for international students, benefiting both them and their families. The system also offers educational institutions a secure framework for managing international student payments.
Flywire operates on the Nasdaq under the ticker FLYW and serves clients across sectors including education, healthcare, travel, and B2B. The company supports over 4,600 clients in more than 240 countries and territories and is headquartered in Boston.
UBION, based in Korea, develops technology services for the education sector and works with both domestic and international student programs.