7 Reasons Why your Education Institution Should Partner with PayMyTuition

If your organization is looking for reasons you should partner with PayMyTuition? This article will focus on seven solid reasons why your organization should choose PayMyTuition. Reasons 1 through 3 are from the perspective of your student body. You want your students, especially those far away from their home country, to have the best college experience you can offer. PayMyTuition is 3 steps towards that goal.

Reason 1:

PayMyTuition offers the very best pricing for foreign students compared to banks and our competitors. In the first place, PayMyTuition eliminates bank transfer fees associated with foreign currency transactions. Add to that, the average 5% savings on currency exchange rates charged by banks and the nearly 1.5% higher rates charged by PayMyTuition competitors, and your students will stand to save the cash they need for other college living and leisure expenses.

Reason 2:

PayMyTuition has 24/7 multilingual support for payers and is accessible from anywhere in the world. Students whose language is not English will appreciate the customer support in their native language along with the help in processing international tuition payments.

Reason 3:

Students have multiple payment options when using PayMyTuition. Those options include such internationally prominent services like China's Alipay and Europe's SEPA. PayMyTuition also accepts popular credit cards, as well as PayPal.

Reasons 4 through 7 are for the benefit of educational institutions, their processes and accounting workload. Besides offering absolutely free integrated seamless solutions to educational institutions, PayMyTuition offers the following institutional advantages:

Reason 4:

PayMyTuition provides free dedicated account management and world-class customer support for institutions as well as student clients. From direct phone to online chat (in 14 languages!), both students and educational institutions have consistently rated PayMyTuition as high excellent to outstanding.

Reason 5:

PayMyTuition offers your students an efficient payment platform that increases your response time in payment processing, thereby reducing payment errors. PayMyTuition also eliminates payment uncertainty by matching payments to the payer via our payer match services.

Reason 6:

PayMyTuition cuts down on your organization's administrative overhead. Automating your tuition collection with PayMyTuition is the easy path to quicker account reconciliation and simplifying your financial operations.

Likewise, PayMyTuition includes a simpler refund management process beginning at the institution with a reverse protocol of intermediate multi-channel processing. Verified refunds are through electronic multicurrency deposits into the student's account.

Reason 7:

Then there is fraud prevention. With PayMyTuition schools do not have to disclose bank account numbers, removing a target for hackers.

By the way, PayMyTuition also makes domestic payments simpler for its 300 higher education clients. As those institutions migrate toward multiple vendors to provide faster and more efficient student financial services, they need to keep up with payment management resources that will include crypto currency payments in Bitcoin and other emerging blockchain-dependent technologies. PayMyTuition is the payment platform to keep those institutions future-ready.

So, let's recap:

The bottom line is that there are increasing numbers of foreign students enrolled in North American campuses. At the end of the semester ending in June 2018, the number of international students in the U.S. reached an all-time high of just over 1.7 million students. .

Answer these questions: Is your institution adapting its administrative and financial operating systems to cater to this growing student customer base? Likewise, are your domestic students receiving the best and most convenient tuition payment options that are intuitively easy to use for today's tech-savvy generation?

The affirmative answers to those questions are through the PayMyTuition platform.

Questions? Check our help page at www.paymytuition.com/faqs or contact us at https://www.paymytuition.com/company/contact/