Flywire Corporation (Flywire) and Discover announced a new partnership that provides students and schools around the world with digital options for education payments. For the first time, students and their families will be able to use their Discover, Diners Club International and network alliance cards to pay tuition and fees at thousands of education institutions around the world that offer Flywire for international education payments.
As the cost of tuition continues to rise, and more education institutions compete for international students, schools are trying to modernize their systems and provide a better payment experience. The partnership between Flywire and Discover solves both sides of the payment equation, providing students and families the ability to pay in their preferred method, while driving operational efficiencies for the institutions receiving payments.
Initially, the program will be available to Discover Global Network Cardholders in seven countries paying in six different currencies: Colombia (COP), Ecuador (USD), India (INR), Japan (JPY), Korea (KRW), Peru (PEN) and the United States (USD). These countries represent growing markets for students studying abroad and Discover Global Network cards are a popular payment option in each of them.
Flywire is the payment provider of choice for education institutions around the world. Its solution enables institutions to offer students a highly-tailored, convenient and secure online payment experience – customized by school, country, and currency – while also accelerating payments, easing reconciliation and streamlining operational expenses. The solution also enables institutions to create custom payment plans to provide students and families with greater flexibility.
“Discover is a leading digital bank and payments provider, and we’re very pleased to offer their popular Discover Global Network card brands as a payment option for the first time,” said Mohit Kansal, vice president of global payments for Flywire. “For client schools, it solves both sides of the payment equation—increasing payment options and convenience for their students and families, while minimizing the cost and complexity of reconciliation on their end.”
“Being a part of Flywire’s solution complements our goal of ensuring our cardholders can pay however and wherever they want,” said Ellie Smith, global head of digital acceptance at Discover. “Flywire’s unique business model unlocks additional payment options for our cardholders across the globe.”
About Discover
Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.
About Flywire
Flywire 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 2,250+ clients with diverse payment methods in more than 130 currencies across 240 countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices.
Contacts
Media Contacts:
for Flywire in the US
Sarah King
[email protected]
Prosek Partners
[email protected]
for Discover
Sarah Grage Silberman
[email protected]
+1-224-405-6029
@Discover_News
Investor Relations Contact:
ICR
[email protected]