Boston, MA, and Tokyo, Japan – June 6, 2023: Today, Flywire Corporation (Flywire) (Nasdaq: FLYW) a global payments enablement and software company, announced a new strategic partnership with DISCO, a market leader in international recruitment and career development, to optimize the cross-border education payments experience for students studying in Japan.
As the exclusive international payments partner for DISCO, Flywire integrates directly into DISCO’s e-apply system, which streamlines the application and enrollment payment experience for international students, and improves operational efficiencies for university administrators, all from its familiar interface.
Japan sets targets to supercharge inbound international student enrollment
Japan is one of the most popular countries in Asia for international students, boasting a rich culture, cuisine and language, as well as the third largest economy in the world by GDP. Data from the Japan Student Services Organization suggests that at its pre-pandemic peak in 2019, there were 312,214 international students in Japan. China, Vietnam and Nepal make up the top three sending countries.
Following the COVID-19 pandemic, a new initiative organized by the Japanese government aims to reignite interest among international students, with the goal to host 400,000 international students by 2033. The Japanese government’s plans include more active recruitment and improved language and career transition support, which aim to rebuild the foreign enrollment base.
Headquartered in Tokyo, DISCO is one of the leading student application solutions for the National / Public university system in Japan, providing more than 1,000 universities, colleges and vocational schools with a variety of services from student recruitment and marketing, to professional training and consulting. Given the focus from the Japanese government on international student recruitment, DISCO was looking for an international payment partner to streamline the payment process for application and enrollment fees. Specifically, DISCO clients wanted to provide students with more payment options, and were looking for ways to reduce the manual reconciliation process for administrators.
“Flywire stood out not only for its powerful payment technology and seamless integration, but also for its knowledge of the Japanese higher education sector," said Masaro Niidome, President of DISCO. “Flywire's innovative payment processing combined with our additional services will enhance the payment experience for our customers and their students."
Flywire embeds into DISCO e-apply to accelerate efficiencies for students and institutions
With Flywire’s payment technology embedded directly into DISCO’s e-apply application management system, all friction is removed from the entire payment experience. Students have a seamless, easy way to pay for their application and enrollment fees in their local currency, while enjoying low exchange rates, convenient online payment tracking, and superior customer service. Additional benefits of the Flywire integration with DISCO application system for both universities and students include:
- Easy implementation: The pre-built integration will simplify the implementation timeline and minimize technical resources typically required for integrating a payment gateway.
- Accelerate reconciliation: With real-time post backs enabled, applicants and administrators have full transparency throughout the payment process.
- Reduce short balance and overpayments: Flywire shows how much the student owes in their local currency and presents Flywire's robust set of local payment options powered by its global payment network. Each school can also lock how much the payer sends, as well as set limits to prevent large over-payments.
“We are thrilled to partner with DISCO and become their exclusive international payments partner,” said Mina Fakhouri, VP of Sales, APAC at Flywire. “Home to many leading institutions and a top destination for international students, Japan is an important region for us, and partnering with DISCO will extend the reach of our solutions to improve the student financial experience.”
Resources
- Learn more about Flywire’s Student Financial Software for the education industry here
About Flywire
Flywire (Nasdaq: FLYW) is a global payments enablement and software company. Flywire combines its proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for 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, so organizations can optimize the payment experience for their customers while eliminating operational challenges.
Flywire supports 3,300 + 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 Twitter, LinkedIn and Facebook.
About DISCO
Founded in 1973, DISCO Inc. is the leading private human resources firm specializing in career and educational development, student recruitment and marketing, professional training with a wide range of career and educational information, services and consulting solutions for the companies, business professionals, academic institutions and students market. Headquartered in Tokyo, Japan (9th Floor, Iidabashi First Building, 2-5-1 Kouraku, Bunkyo-ku) DISCO also organizes a series of internationally recognized job fairs called the “Career Forum'' held in major cities worldwide. Their Boston Career Forum, the world’s largest Japanese-English bilingual job fair, is held for three days at the Boston Convention Center in Boston, MA. Learn more at https://www.disc.co.jp/
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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, 2022, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, 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.
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