Flywire, a U.S.-based fintech firm that provides global payment and receivables solutions for education, healthcare, and commercial enterprises, announced on Thursday it has formed a new partnership with Vietnam-based banking group VPBank for International Tuition Payments for Vietnamese students.
Flywire reported that through the partnership it will enable Vietnamese students to make their international tuition payments in VND, through their preferred method, including bank transfers, which are very popular in Vietnam. The joint offering also provides an intuitive, digital workflow for the submission of necessary documentation required by local regulations.
While sharing more details about the collaboration, Ryan Frere, Vice President of global payments for Flywire
“Vietnam is one of the fastest-growing countries of origin for international students around the world, and as the country’s economy continues to grow at a rapid rate, so too does the number of Vietnamese families sending children to study abroad. Many of Flywire’s client schools in the US, Canada, UK, and Australia already have large Vietnamese student populations. Our collaboration with VPBank makes it significantly easier for those schools to serve students at higher levels in this important market.”
A VPBank spokesperson went on to add:
“The cooperation with Flywire demonstrates the bank’s dynamic thinking and actions, which reaffirms its advantages in technology, its ability to capture market demand and create the most convenient experience for customers.”