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PayMyTuition partners with Ecobank to expand its presence into Africa, enabling international students across the continent to simply and easily pay tuition and fees in only minutes.
updated: Jul 21, 2020 06:05 EDT
TORONTO and JERSEY CITY, N.J.,
July 21, 2020 (Newswire.com) –
PayMyTuition, a leading provider of technology-driven global payment processing solutions for international tuition payments, has entered into a landmark partnership with Ecobank Group, enabling African students the ability to pay international tuition and fees seamlessly. This partnership gives students across the region access to local, in-country collections, as well as the ability to make international tuition payments and receive international tuition refunds with just a click of a button.
It is reported that Africa has one of the fastest-growing middle-class populations in the world, with a growing need of Africans seeking world-class education across the globe. This, coupled with a population boom that is set to see the continent grow to 2.5 billion people by 2050, means that the region’s demand for higher education could see a dramatic rise in the years ahead. The overall number of African students in the United States hit a record high in 2019 with international students from some countries growing double digits from the previous semester.
In his comment, Isaac Kamuta, Group Head Cash Management & Client Access at Ecobank Group, said, “At Ecobank, our goal is to help support the education of the next generation of African leaders by facilitating the ease of seeking world-class education. Partnering with PayMyTuition will remove the cross-border friction that exists for students when paying tuition and other fees overseas. Utilizing PayMyTuition’s innovative technology will allow students access to local currency payment options for international tuition payments and to receive international refunds simply and easily in the most cost-efficient manner.”
Also speaking, Arif Harji, Chief Market Strategist at MTFX Group, said partnering with Ecobank to expand the PayMyTuition platform within Africa’s already deep payment rails will now allow students to make international tuition payments and receive international refunds across the continent in minutes.
“This expansion of our innovative technology through the Ecobank Group changes the game for students across the region, being one of the only solutions available to offer local, in-country collections for students studying abroad. PayMyTuition’s technology platform optimizes and creates efficiencies within international tuition payment processing and settlement, giving students payment method and timing flexibility. This technology will help reduce costs, prevent errors, and improve overall speed with the ability of real-time settlement,” Arif Harji stated.
PayMyTuition’s cross-border tuition payment solution can be seamlessly integrated, by way of their real-time API, into most student information systems including: Banner, Colleague, PeopleSoft, Workday and Jenzabar. The utilization of Artificial Intelligence (AI) and machine learning technology within the platform will also provide large and complete amounts of rich data, including student information and payment statuses, making end-to-end payment transactions simple and transparent.
Group Communications Manager