Flywire Partners with HDFC Bank to Digitize Education Payments from India
BOSTON, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Flywire Corporation (Nasdaq: FLYW) (Flywire), a global payments enablement and software company, today announced that it has partnered with HDFC Bank Limited, India’s largest private-sector bank, to enable Indian payers to seamlessly and digitally pay international education fees to higher education institutions all over the world. The integration provides students and families a streamlined experience when making high-value education payments and helps them comply with LRS requirements, which are guidelines to help streamline overseas transactions and investments for Indian residents.
- According to a Flywire report , 82% of Indian students surveyed believe that simplified payment processes would improve their education experience.
- The partnership between Flywire and HDFC Bank provides an innovative approach to education payments and offers many benefits to students and institutions alike.
- Flywire and HDFC Bank provide all the necessary verification under LRS requirements quickly, and all from within the payers digital payment experience.
- Flywire identifies the source of payments delivered to an institutions bank account and automatically posts each payment to the correct student record.