Flywire and SBI Simplify Payments for Foreign Students

Indian students who want to pursue their education abroad can now enjoy a hassle-free and convenient payment process, thanks to the partnership between Flywire Corporation and State Bank of India (SBI), the largest lender in India. The partnership aims to offer Indian students an advanced digital checkout experience for their international educational payments, ranging from application to tuition fees.

Flywire is a global payment platform that enables secure, transparent and convenient cross-border transactions for education, healthcare, travel and business sectors. SBI is the leading bank in India with over 420 million customers and a network of more than 22,000 branches across the country.

Under the partnership, Flywire’s technology will be integrated directly into the bank’s platform, offering Indian students an advanced digital checkout experience for their international educational payments. Students can complete transactions effortlessly in Indian rupees within three simple steps on SBI’s net banking platform. Additionally, institutions will benefit from the automatic capture of relevant student information, ensuring accurate and identifiable payments.

The partnership will also provide students with real-time tracking of their payments, competitive exchange rates, multiple payment options and dedicated multilingual customer support. Moreover, students will be able to access Flywire’s value-added services such as scholarships, discounts, insurance and financial education.

According to a report by UNESCO, India is the second-largest source of international students in the world, with over 750,000 students studying abroad in 2019. The US, UK, Canada, Australia and New Zealand are among the top destinations for Indian students. However, paying for international education can be a complex and costly process for many students and their families.

The partnership between Flywire and SBI aims to address these challenges and make international education more accessible and affordable for Indian students. By leveraging Flywire’s global payment network and SBI’s extensive reach in India, the partnership will enable faster, cheaper and more secure payments for Indian students studying abroad.

“Flywire is committed to empowering global citizens with access to quality education. We are delighted to partner with SBI, the most trusted bank in India, to offer Indian students a seamless and digital payment experience for their international education. Together, we will help Indian students achieve their academic goals and aspirations,” said Ryan Frere, Executive Vice President of Global Payments at Flywire.

“SBI is always at the forefront of providing innovative solutions to our customers. We are pleased to partner with Flywire, a leading global payment platform, to offer our student customers a convenient and hassle-free way to pay for their international education. This partnership will enhance our digital offerings and enable our student customers to pursue their dreams of studying abroad,” said C Venkat Nageswar, Deputy Managing Director (International Banking Group) at SBI.

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