Improved collection rates, shorter payment cycles, and accelerated cash flows for universities, private schools and language schools

LONDON, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Flywire, a company that solves complex payment problems for businesses and institutions, today announced the availability of Flywire Payment Plan Management in the UK. The solution enables schools and universities of all types to offer students and their families custom tuition payment plans to fit their specific needs while streamlining the administrative requirements involved.

Payment Plan Management empowers school and university staff to manage personalised repayment terms with students and their families based on pre-defined rules. Payers can use a variety of vehicles; e.g., recurring card payments, installment payments, bank transfers, to pay their tuition on a schedule that fits both their needs and the institution’s. The offering is available to both domestic and international payers, and designed to meet GDPR and PCI DSS standards.

The solution also provides important self-service options to payers, freeing up school and university staff to focus on higher-value activities. These capabilities include:

  • Making adjustments after over/under payments and automatically re-balancing and adjusting future payments.
  • Updating new cards and accounts for payments.
  • Initiating and combining payments from multiple sources; e.g., both students and parents.
  • Granting account access authorization – for both viewing and making payments by third parties.

Payment Plan Management enables both domestic and international payments from any device, and 24x7 tracking via a customisable dashboard. Administrators can manage the entire process through a single system, from initial payment through the final payment plan installment. Additionally, schools and universities can quickly identify problem accounts and set up tailored email campaigns to help keep payers on track.

“Whether it’s domestic or international, Payment Plan Management makes the process more efficient and more secure for all involved,” said Mike Massaro, CEO of Flywire. “By taking the uncertainty out of the payment process, we’re allowing students to focus on learning, and universities and schools to focus on educating.”

About Flywire
Flywire solves complex payment problems for businesses and institutions to empower new opportunities globally and locally. The company processes billions in payments per year, connecting all the entities involved to make those transactions faster, more secure, less expensive, and more transparent. Clients in business, education and healthcare use Flywire’s full-service platform to tailor the payment experience for their customers and to create a single point of visibility and control for payer engagement and receivables management – from invoicing and payment through reconciliation. Flywire also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as around-the-clock online payment tracking.

The company is headquartered in Boston and has offices in Chicago, London and Manchester (UK), Valencia (Spain), Shanghai, Singapore, Tokyo, Cluj (Romania), and Sydney. For more information, visit www.Flywire.com.

Media Contact:
Tim Walsh
+1 617.512.1641