Vertical payments firm Flywire has partnered with BELTA, the Brazilian Educational & Language Travel Association, in a move that grows the availability of its cross-border payment services for students from Brazil who are studying in other countries.
The relationship also offers a trusted and safe international payment channel to make sure that tuition, as well as other costs, are seamless between pupils, educational institutions and recruitment agents, according to a Wednesday (Oct. 7) announcement.
“Agents play a key role in connecting Brazilian students with the best international study opportunities,” BELTA President Maura Leão said in the announcement. “Flywire’s modern digital payment platform and comprehensive global services simplify the way our agents engage with schools and students and streamline the experience for all involved. We’re very pleased to be partnering with them.”
Flywire’s offering for education lets agents better handle student data and simplify payment monitoring. It also allows schools to optimize agent relationships and keep possible fraud to a minimum.
Some of the firm’s key functions benefiting agent organizations include seamless integration with agent websites, centralized student data, access to favorable exchange rates, higher visibility for agents, payers and education institutions, strong anti-fraud functions and complete compliance with new Brazilian General Data Protection laws.
Brazil is among the fastest expanding origination markets for global students. Last year, 386,000 Brazilian students studied internationally per BELTA Seal Market Research 2020. The U.S., Canada, Ireland, U.K. and Australia were some popular destinations.
Agents have an essential function in the market, with approximately 86 percent of outbound Brazilian students acquiring their programs via an education agency.
"BELTA has established a clear leadership position in the Brazilian market because of the outstanding quality of its agent organizations and their unwavering dedication to helping students find the right educational opportunities abroad,” Flywire EVP of Education Sharon Butler said in the announcement. “Their agents represent our client schools exceptionally well and we are very pleased to partner together to create more quality educational opportunities abroad for students originating from Brazil.”
In July, news surfaced that Flywire joined forces with China’s global education industry association BOSSA to bring its cross-border payment offerings to additional Chinese students traveling to other nations.
BOSSA, or the Beijing Overseas Study Service Association, is a non-profit supported by the government that helps its 300 member agents recruit and offer guidance to approximately two-thirds of all students from China studying in other nations each year.