BOSTON, November 21, 2024 (GLOBE NEWSWIRE) — Flywire Company (Flywire) (Nasdaq: FLYW), a global payments software and enablement company, announced a strategic partnership with Blackbaud (NASDAQ: BLKB), the leading provider of software to drive social impact. Flywire will become a preferred payment method for international students paying tuition and other related expenses to Blackbaud K-12 client schools in the United States. Flywire’s integration into Blackbaud’s tuition management platform enables a seamless payment experience for students and helps private and independent schools streamline incoming payments, including tuition and fees, students from all over the world.
To increase international student enrollment, K-12 boarding and independent schools are improving their recruitment and retention strategies, from adopting digital outreach tools to increasing student support services. students, through the diversification of their recruitment efforts. Schools are also looking to improve their payment processes to reduce barriers to enrollment. A seamless payment experience that simplifies currency conversion and cross-border transactions is particularly attractive to international families paying for very expensive primary and secondary schools. Additionally, schools that offer flexible payment plans and secure payment methods can make themselves more accessible to a wider audience, which can increase enrollment rates, especially among international and non-local students.
A leading software provider for the K-12 market, Blackbaud recognizes the importance of streamlining the payment process for international students and schools. Tuition can range from $4,200 to more than $29,000 per year for high schools in the United States, and students and families would traditionally have to rely on wire transfers and international credit cards, which which would lead to complexity, lack of visibility on payments made and high costs. costs. With Flywire integrated into the Blackbaud Tuition Management platform, schools can provide real-time, secure, online payment processing functionality for families, while maintaining the reliable reconciliation process schools use today with Blackbaud.
Schools using Blackbaud will also benefit from out-of-the-box Flywire integration and 24-hour multilingual support. This turnkey integration ensures tightly linked payment processing within the Blackbaud system. Both front-end and back-end users will benefit from easy access to real-time balance and payment status.
“As a trusted partner to K-12 independent schools, we are always listening to our customers and finding ways to innovate to make their schools operate more efficiently,” said Mark Davis, vice -president of educational products at Blackbaud. “Our Flywire integration will help simplify international payments for international families, which should improve international student enrollment for our customers.”
“As Flywire continues to serve the K-12 education market, we are excited to partner with Blackbaud who brings significant relationships and a broad footprint in the K-12 education sector. 12th grade in the United States,” said Sharon Butler, executive vice president and general manager of Global. Education, Flywire. “Through our powerful and seamless integration, we are able to deliver exceptional payment experiences to students and schools – and we are committed to building on this foundation as the partnership continues.” »
About Flywire
Flywire is a global payments software and enablement company. We combine our proprietary global payments network, next-generation payments platform, and vertical-specific software to deliver the largest, most complex payments to our clients and their customers.
Flywire leverages its vertical-specific software and payments technology to deeply integrate into existing A/R workflows for its customers in the education, healthcare, and travel verticals, as well as key B2B sectors. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize their customers’ payment experiences while eliminating operational challenges.
Flywire supports over 4,000* customers with various payment methods in over 140 currencies in 240 countries and territories around the world. Flywire is headquartered in Boston, MA, USA and has global offices. For more information, visit www.flywire.com. Follow Flywire on X (formerly known as Twitter), LinkedIn And Facebook.
*Excludes Flywire billed acquisition customers
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This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Flywire’s future results of operations and financial condition, strategy and plans. Flywire’s business, market growth and Flywire’s goals for future operations. Flywire intends that these forward-looking statements are covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In certain cases, you may identify forward-looking statements. forward-looking statements by words such as, but not limited to, “believe”, “may”, “will”, “potentially”, “estimate”, “continue”, “anticipate”, “intend” “, “could”, “would”, “project”, “target”, “plan”, “expect” or the negative of these terms, and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Important factors that could cause actual results to differ materially from those reflected in Flywire’s forward-looking statements include, among others, the factors described in the “Risk Factors” and “Management’s Discussion and Analysis” sections. Financial and Operating Results” of Flywire’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and Quarterly Report on Form 10-Q for the quarter ended September 30 2024, which are filed with the Securities and Exchange Commission (SEC) and available on the SEC website at https://www.sec.gov/. The information contained in this release is provided only as of the date of this release, and Flywire undertakes no obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise, except as law requires it.
