Flywire, a global payments-enablement and software company, today announced the expansion of its digital education payments business to key countries in Latin America, including Brazil, Colombia, Mexico, Peru and Chile. Flywire has invested in dedicated resources in the region for client support, payment management, business development and sales.
As schools in North America, Europe and Australia look to diversify their student base, Latin America’s growing middle-class and the demand for global educational experiences has made the region an increasingly important market from which to recruit. Likewise, Latin America has also become an important destination market for international students, with many schools attracting students from North America and Europe as well as from other countries within the region.
Flywire’s education payments platform enables schools to offer a highly-tailored, convenient and secure digital payment experience, which can be customized by school, country, and currency. This customized payment platform is designed to accelerate funds flow, ease reconciliation and streamline operational expenses. In Latin America, Flywire currently supports 32 different local currencies and a variety of different local payment methods.
“Latin America represents an exciting opportunity for Flywire as both a source market for schools abroad and as an increasingly popular destination for students traveling from North America and Europe,” said Rafael Ayala, managing director of Latin America at Flywire. “We believe the combination of our technology and robust payment network, together with our partner ecosystem and deep knowledge of the higher education vertical and local cultures makes us well suited to build our footprint in this region at scale.”
Education agents also play a key role in the market. The majority of Latin American students studying abroad work through an education agency to source and select their educational programs. Flywire’s payments platform offers specific capabilities to help agents better manage student information and streamline payment tracking, while also enabling education institutions to optimize agent relationships and minimize potential fraud. Flywire has a long history of working with education agents around the world and is currently working with BELTA in Brazil .
