Vietnam Prosperity Bank (VPBank), a joint-stock commercial bank in Vietnam, has teamed up with payment solutions provider Flywire to streamline international tuition payments for Vietnamese students.
The collaboration allows Vietnamese students to make international tuition payments in VND using the method of their choice such as bank transfers.
Moreover, the alliance offers an intuitive, digital workflow for document submission as mandated by local laws.
Flywire vice president of global payments Ryan Frere said: “Vietnam is one of the fastest-growing countries of origin for international students around the world, and as the country’s economy continues to grow at a rapid rate, so too does the number of Vietnamese families sending children to study abroad.
“Many of Flywire’s client schools in the US, Canada, UK, and Australia already have large Vietnamese student populations.
“Our collaboration with VPBank makes it significantly easier for those schools to serve students at higher levels in this important market.”
Last month, Flywire joined forces with New Zealand-based enquiry and enrolment software Enroller for simplifying the process through which international students make payments to New Zealand’s educational institutions.
Flywire has branches in Boston, which serves as its base, as well as Chicago, London, Manchester, Valencia, Shanghai, Singapore, Tokyo, Cluj, and Sydney.
The firm is said to have processed over $12bn for more than 2,000 education institutions.