Rapyd Powers Fast Global Payments Expansion for PayMyTuition
Rapyd’s ability to deliver popular payment methods in Latin America and Asia supported growth in six countries.
PayMyTuition makes international education payments easy by enabling families to pay tuition using locally preferred payment methods. Rapyd’s ability to deliver popular payment methods, like bank transfers, across hard-to-reach markets in Latin America and Asia supported growth across six countries.
One of the main challenges students and universities face is sending and receiving tuition and fees across the globe. Many students only have the option to use wire transfers or credit cards to pay tuition bills, which can be slow and expensive.
PayMyTuition needed to:
- Offer a variety of local payment options, including bank transfers
- Provide faster and more cost-effective money transfers
- Act quickly to respond to changing customer expectations
- Expand their business across Latin America and Asia
Rapyd’s expertise in global cross-border and local payments expanded PayMyTuition’s presence in key regions by providing immediate access to a large network of banks and payment methods across Latin America and the Asia Pacific region.
With Rapyd Collect, PayMyTuition is able to reach millions of new customers, collect funds in local currencies and settle in U.S. dollars, simplifying foreign exchange and payouts to universities.