Flywire partners with State Bank of India to digitize education payments

Flywire has partnered with State Bank of India to enable Indian payers to seamlessly and digitally pay international education-related fees in their local currency to higher education institutions all over the world. The integration provides students and families a streamlined and completely digital experience when making high-value education payments, and helps them comply with the Liberalized Remittance Scheme, which are guidelines to help streamline overseas transactions and investments for residents of India. Flywire integrates directly into SBI’s banking platform, providing Indian students with a fully digital checkout experience for their transactions, ranging from application fees to tuition payments. The solution is available only to local currency account holders of SBI in India. Students can make the payment in three simple steps from within their SBI net banking platform, all in Indian rupees, and can track the payment through to when the funds are delivered to their university. Likewise, institutions accepting payments through Flywire benefit from receiving payments on time in the local currency, as well as full transparency into the transaction history, which eases their reconciliation processes and streamlines operational efficiencies.