Nelnet Campus Commerce, a provider of secure payment technology for higher education institutions, is expanding international student payment options via a new partnership with MTFX Group's payment solution, PayMyTuition.
PayMyTuition enables international students to pay their tuition and other fees in their home currency, in some cases saving students thousands of dollars on currency exchange and transfer fees. These savings are the result of PayMyTuition offering international students wholesale rates on transactions.
"Nelnet's new partnership with MTFX incorporates PayMyTuition's feature-rich digital payments capability directly into our platforms with real-time integrations," says DeeAnn Wenger, President of Nelnet Campus Commerce. "We're thrilled to provide additional tuition and fee-related transaction resources for international students."
"We are pleased to partner with Nelnet and provide our PayMyTuition cross border tuition payments solution to their education partners and students," says Arif Harji, Chief Marketing Strategist, MTFX Group.
"It's a much more efficient and safer process to have our international payments made online with PayMyTuition, especially when we have foreign students arriving with large sums of cash to make their tuition payments."
-- Greg McCoy, Director of Student Financial Services at Auburn University
To make a payment via PayMyTuition, a student would first secure the exchange rate, and fund the transaction with the specified amount in their native currency. From there, PayMyTuition delivers the equivalent value directly to the educational institution in the institution's local currency.
The company says the process takes two days from when the funds are first sent, and PayMyTuition tracks and notifies the student at every step of the process and when the payment is complete.
"PayMyTuition was seamless to implement. The PayMyTuition dashboard was easy to use and helped our staff see the status of student tuition payments."
-- Carly Crossman, Manager, Accounting and Revenue at Thompson Rivers University
"By way of this payment technology, families will be able to quickly and easily pay tuition and fees across borders by the click of a button," says MTFX Group's Harji. "Adding this international payment solution as one of several options that Nelnet Campus Commerce provides to partners will empower families to make the best choice for their students studying abroad."