Flywire Corporation (Flywire) a global payments enablement and software company, today launched Flywire eStore, an online platform that provides a seamless, secure e-commerce experience for clients and their customers. With Flywire eStore, organizations - such as higher ed institutions - can offer a marketplace of stores where end customers can securely purchase goods and services, as well as register for events.
“Our clients are increasingly looking to consolidate their systems and vendors in order to achieve greater operational efficiencies,” said David King, Flywire CTO. “We developed Flywire eStore in response to customer demand for one holistic payment provider that can automate processes ranging from tuition expenses to on-campus events. Now, Flywire is their one-stop-shop for capturing transactions ranging - from tuition payments, to e-commerce transactions.”
Purpose-built for both administrators and compliance officers to easily and securely set up and manage, Flywire eStore enables organizations to capitalize on net-new revenue opportunities. For instance, in higher education, institutions are capturing a greater share of non-tuition transaction volume, such as course supplies, university conferences and events, housing deposits, athletic fees and more. This is especially prevalent as higher education institutions make the rapid shift to digital commerce in light of the COVID-19 pandemic.
“Wesleyan University originally partnered with Flywire eStore to allow for greater control and a more visually appealing interface in our online store, as well as to accommodate small revenue streams with the ease of one portal,” said Valerie Nye, Controller, Wesleyan University. “However, the remote work environment of a pandemic has prioritized making Wesleyan a cash-less and check-less campus, and thanks to Flywire eStore, we are well on our way.
“This product has helped to substantially improve process efficiencies and reduce financial risk. It has eliminated the hassle of processing paper checks and allowed Wesleyan quicker access to funds. High-volume, low-dollar transactions are virtually automated, allowing staff to focus on the University’s core revenue streams.”
Additional features and benefits of Flywire eStore include:
- Scalable marketplace: Department administrators can manage their respective online stores and sell their own products and promotions, distinct from other stores within the marketplace. Administrators can easily and efficiently create and have new stores up and running to sell goods and services.
- Flexible payment options: The platform supports domestic U.S. credit cards and ACH transactions, so clients’ customers can shop in their preferred method. A mobile-responsive experience means customers can shop from whichever device is most convenient for them.
- Robust, modern and configurable: Flywire eStore is an all-in-one solution, so administrators do not have to separately manage a shopping cart solution and an event registration solution. Customers can purchase both types of products with one checkout experience and administrators can configure complex products with add-ons that roll into one purchase price.
- Trackable for reporting and monitoring: Administrators can track and report on their marketplace as needed – holistically or by individual stores. They can also audit changes to products and store setups to validate who made changes.
- Secure and compliant: PCI Level 1 compliant, Flywire eStore enables Compliance Officers to securely provision stores and provide institutional oversight, while Flywire manages the payment processing.
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 offers its 2,250+ clients more than 250 payment methods and processes payments in more than 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on Twitter, LinkedIn and Facebook.
Contacts
Media Contacts:Sarah King
[email protected]
Prosek Partners
[email protected]
Investor Relations Contact:
ICR
[email protected]