BOSTON, Nov. 21, 2024 (GLOBE NEWSWIRE) — Flywire Corporation (Flywire) (Nasdaq: FLYW), a global payments enablement and software company, has announced a strategic partnership with Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact. Flywire will become a preferred payment method for international students who pay their tuition and other related expenses to Blackbaud’s K-12 school customers in the United States. Incorporating Flywire into Blackbaud’s Tuition Management platform enables a seamless payment experience for students and helps private and independent schools streamline incoming payments, including tuition and enrollment fees, from students worldwide.
To boost international student enrollment, K-12 boarding schools and independent schools are enhancing their recruitment and retention strategies, from adopting digital outreach tools, to increasing support services for students, to diversifying their recruitment efforts. Schools are also looking to enhance their payment processes to reduce any barriers to enrollment. A seamless payments experience that simplifies currency conversion and cross-border transactions is particularly attractive to international families paying high-cost K-12 schools. Furthermore, schools that offer flexible payment plans and secure payment methods can make themselves more accessible to a wider audience, which may increase enrollment rates, particularly among international and non-local students.
A leading software provider for the K-12 market, Blackbaud recognizes the importance of streamlining the payment process for international students and schools. Tuition payments can range from $4,200 to greater than $29,000 annually for secondary schools in the United States, and students and families would traditionally need to rely on international wires and credit cards, which would come with complexity, lack of visibility into payments made, and high fees. With Flywire integrated into the Blackbaud Tuition Management platform, schools can provide real-time, secure and online payment processing functionality for families, while maintaining the existing reliable reconciliation process schools use with Blackbaud today.
Schools that use Blackbaud will also benefit from Flywire’s out-of-the-box integration and around-the-clock multilingual support. This turnkey integration ensures tightly linked payment processing within the Blackbaud system. Both front-end and back-end users will benefit from easily accessing up-to-date balance and payment status in real time.
“As a trusted partner to K-12 independent schools, we are always listening to our clients and finding ways to innovate to make their schools run more effectively and efficiently,” said Mark Davis, vice president, education products, Blackbaud. “Our Flywire integration will help simplify international payments from international families, which should improve international student enrollment for our customers.”
“As Flywire continues to serve the K-12 education market, we’re thrilled to partner with Blackbaud who brings meaningful relationships and a large footprint in the K-12 education sector in the U.S,” said Sharon Butler, EVP and GM of Global Education, Flywire. “Through our powerful, seamless integration, we are able to deliver exceptional payment experiences for students and schools alike – and we’re committed to building on this foundation as the partnership continues.”
About Flywire
Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
Flywire supports more than 4,000* clients with diverse payment methods in more than 140 currencies across 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on X (formerly known as Twitter), LinkedIn and Facebook.
*Excludes clients from Flywire’s Invoiced acquisition
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s future operating results and financial position, Flywire’s business strategy and plans, market growth, and Flywire’s objectives for future operations. Flywire intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire’s forward-looking statements include, among others, the factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Flywire’s Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC’s website at https://www.sec.gov/. The information in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
This post is exclusively published on eduexpertisehub.com
Source link
