April 7th, 2020 – Toronto; Jersey City: PayMyTuition, a leading provider of technology-driven global payment processing solutions for international tuition payments, announced today that it has made its next-generation cross border tuition payments technology available for domestic student payments across Canada. This innovative solution was created in response to the COVID-19 pandemic, to aid in the support of social distancing, to equip institutions with an alternative cost-effective way for students to pay tuition and fees. Students can now pay tuition and fees directly online to their educational institution via numerous domestic payment methods including Email money transfers, bill pay, direct debit, EFTs, credit cards, and Paypal in order to avoid in-person transactions.
“We are in uncertain times and the impact of COVID-19 has put a lot of pressure on educational institutions across Canada. We wanted to assist Canadian institutions by enabling them to offer a safer alternative for domestic student tuition and fee payments,” said Arif Harji, Chief Market Strategist at MTFX Group. “We have developed a digital, contactless and more affordable payment alternative for domestic students allowing them to make payments in the comfort of their home versus traveling to an institution to pay face-to-face.”
With the launch of PayMyTuition’s domestic student payment solution, students in Canada can quickly and easily pay for tuition and student fees at the click of a button. Once payments are funded into the institution’s bank account, transactions are automatically matched to specific student records and are then posted directly into the appropriate student accounts without any manual intervention through PayMyTuition’s API Integration. This automation will reduce tuition processing times, remove bulk manual payment matching, allow instant payment settlement for faster student enrollment, and save the institution time and money on overall payment processing.
PayMyTuition’s domestic student payment solution, by way of their real-time API, can be seamlessly integrated into most student information systems including Banner, Colleague, PeopleSoft, Workday, and Jenzabar.
The company has already onboarded several Canadian colleges and universities to offer this alternative to its students. PayMyTuition will continue to work with institutions across Canada to expand this offering to a multitude of schools over the next thirty days.
PayMyTuition is part of the MTFX Group of Companies, a foreign exchange and global payments solution provider with a track record of 23+ years, facilitating payments for over 8,000 corporate and institutional clients across North America. MTFX has built its reputation on amazing people and great technology. Using a blend of “high-tech” and “high-touch” solutions, MTFX has grown to become a leader in online foreign exchange and global payment services across North America. In addition to offering incredibly competitive currency exchange rates, MTFX’s “high-touch” 24/7 multilingual customer support ensures that every transaction not only meets but exceeds the level of service our customers expect from us. MTFX is headquartered in Toronto, Canada with its US headquarters in Jersey City, NJ.