Partnership opens up new markets and currency options for JCB cardholders across Asia
BOSTON and TOKYO, Sept. 29, 2019 (GLOBE NEWSWIRE) -- Flywire and JCB International, Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., today announced a new partnership that provides international students with a new method for making cross-border tuition payments. The program, which officially launched on September 27, allows cardholders in select countries and regions mainly in Asia to use their JCB card to pay tuition at any one of the 2,000 plus schools around the world that offer Flywire for international payments.
For the first time, students and their families will be able to use their JCB card to pay international tuition via Flywire’s platform in their local currency. Initially, the program will be available to students originating in the following countries and paying in the following currencies: Japanese yen (JPY), Vietnamese dong (VND), Korean won (KRW), New Taiwan dollar (TWD), Chinese yuan (CNY), Philippine peso (PHP), Thai baht (THB), Indonesian rupiah (IDR), Russian ruble (RUB), Hong Kong dollar (HKD), Singapore dollar (SGD), and Myanmar Kyat (MMK).
Flywire is the payment solution of choice for international students and education institutions around the world. The platform provides a single point of management and payer engagement from billing and payment through reconciliation. Schools can offer students and families a highly-tailored, convenient and secure payment experience – customized by school, country and regions, and currency – while accelerating funds flow and streamlining operational expense.
“We are always pursuing new payment options for our client schools to offer students and their families,” said Ryan Frere, vice president of global payments for Flywire. “With JCB, we are activating a very popular payment method in many of the world’s largest and fastest-growing markets for international students. Schools can offer more convenient, local tuition payment options and JCB can enhance services for many of its 130 million plus cardholders.”
“We are delighted to deliver the news of our partnership with such an innovative and highly reputable company in the payment industry,” Mr. Hitoshi Shioda, EVP, Head of Global Acceptance & Marketing HQ of JCBI said. “With our goal to provide high quality service to JCB cardmembers in various markets, Flywire is the perfect partner to satisfy rapidly growing customer needs in tuition payment.”
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information: www.global.jcb/en.
Flywire solves complex payment problems for businesses and institutions to empower new opportunities globally and locally. The company processes billions in payments per year, connecting entities to make transactions faster, more secure, less expensive, and more transparent. Clients in business, education and healthcare use Flywire’s full-service platform to tailor the payment experience for their customers and to create a single point of visibility and control for payer engagement and receivables management – from invoicing to payment reconciliation. Flywire also supports its clients with end-to-end customer support, including multilingual servicing via phone, email, and chat, as well as around-the-clock online payment tracking.
The company is headquartered in Boston and has offices in Chicago, London and Manchester (UK), Valencia (Spain), Shanghai, Singapore, Tokyo, Cluj (Romania), and Sydney. For more information, visit www.Flywire.com.
Corporate Communications, JCB