One of the key features of this partnership is automated reconciliation. Every transaction processed via TransferMate’s network is automatically linked to the appropriate student or agent account, aiming to reduce manual reconciliation efforts and minimize errors.
The embedded API also streamlines commission payouts to agents across multiple jurisdictions. TransferMate reports that their system supports real-time matching and enables payments to be processed at the same time as tuition fees, creating a unified financial workflow for education providers.
Global payment capabilities have been expanded with this integration, offering more countries than previously available to Qualy’s clients. This should help institutions and agents operate in diverse regions like Brazil and Australia where Qualy already has an established customer base.
Incorporating TransferMate’s payment infrastructure into the Qualy environment ensures that users can initiate, track, or reconcile transactions without leaving the platform. A Qualy representative cited the partner’s sector-specific functionality as a key reason for this collaboration, aligning with Qualy’s international payment goals.
TransferMate emphasized that their integration tackles specific challenges in education payments, such as commission settlements, invoicing, and support for multiple payment methods including direct debit and instalment plans. This announcement is part of Qualy’s broader initiative to introduce an AI-based tool that automates the extraction of data from Letters of Offer, reducing administrative burdens on educational institutions.