TORONTO; JERSEY CITY, -PayMyTuition, a leading provider of technology-driven global payment processing solutions for international tuition payments, is pleased to announce their integration with Boleto Bancário, the most popular solution for local invoice payments in Brazil. Through working with a local partner in Brazil, PayMyTuition has introduced Boleto as a funding option for Brazilian consumers. PayMyTuition also announced today it has added support for the Brazilian Real, allowing users in Brazil to hold e-wallet balances in their local currency.
Boleto Bancário, commonly referred to as Boleto, is a national payment method which allows Brazilians to transfer funds online instantly, securely and affordably. Boleto accounts for 23% of all online payments in Brazil. PayMyTuition’s integration to Boleto allows consumers in Brazil to load their e-wallet with local currency and use those funds to settle their tuition fees internationally.
“Support for Boleto and the Brazilian Real is just the beginning of our plans to bring the convenience of full-service e-payment support for students in Brazil,” said Arif Harji, Chief Market Strategist at MTFX Group. “We’re proud to further invest in the local digital economies in Brazil and throughout South America to bring greater financial access to payers through our continued local partnerships in these countries.”
A Boleto Bancário is a financial document, like an invoice, that enables a specified amount to be transferred within a defined period of time. Regulated by the Brazilian Federation of Banks (FEBRABANK), Boleto has been designed to be a secure and inclusive payment method for local transactions.
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. Last year MTFX Group processed over 10 billion in currency exchange across 220+ countries in over 120 different currencies. 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. For more information visit www.paymytuition.com