Flywire announces partnership with State Bank of India to digitise education payments

International student payment platform Flywire has partnered with the State Bank of India (SBI), India’s largest public sector bank, to streamline education payments.

Due to the collaboration, Indian students will be able to pay international education-related fees in their local currency (Indian Rupees) to higher education institutions all over the world.

Flywire will provide this service by integrating directly into SBI’s banking platform, providing Indian students with a fully digital checkout experience for their transactions, ranging from application fees to tuition payments.

While using the integrated platform, students will benefit from a completely digitized and streamlined payment process and be able to make payments in three steps from within their SBI banking platform, Flywire said.

The company added that educational institutions will also see benefits from the payment integration, as it will let them automatically capture all relevant student information, ensuring payments are accurate and identifiable.

Mohit Kansal, SVP of Global Payments, Flywire, said, “We are thrilled to partner with SBI to combine their comprehensive banking network and Flywire’s payment technology with the goal of transforming how international payments are made. This powerful integration enables students to transform what was typically a cumbersome, multi-day process into a streamlined and seamless digital experience. We take all the complexity away so all they need is a login and a computer or a mobile phone.”

SBI added, “We are pleased to partner with Flywire and offer this unique offering to Indian students and customers of SBI. By partnering with Flywire, we’re expanding the footprint of our payment solutions to benefit the next generation of students.”

In the last year, Flywire has announced payment partnerships in China and Japan, as well as the acquisition of admissions and agent management software StudyLink from Navitas.

Headquartered in Boston, USA, Flywire supports international payments in the education, healthcare and travel markets and supports payments in more than 140 currencies.

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