The Japanese education market is providing strong returns for international payment and receivables solutions provider Flywire.
Since entering last April, Flywire has signed up more than 90 Japanese schools for its global payment processing platform and moved approximately $60 million on behalf of those schools and their students.
Japan is making a big push for international students, Flywire said in a statement. Government agencies and schools are working to attract more international students and the results are paying off. The number of international students grew by almost 10 per cent in 2015 and by 15 per cent in 2016, when 239,287 international students enrolled in Japanese institutions.
“International education is thriving in Japan, and it’s one of the key countries in our expansion in the Asia-Pacific region,” said Mike Massaro, CEO at Flywire. “We have an outstanding team in place focused on serving the needs of both educational institutions and students to make the cross-border payment and receivable process easy, efficient and transparent for all involved.”
Flywire was founded in 2011. It has processed more than $5 billion in educational payments and assists schools with reconciliation and tracking of international payments.