Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, July 13 (Xinhua)-- US third-party payment platform Flywire announced today that it will cooperate with Tencent to access WeChat Pay service as a way for Chinese students and families to pay for education abroad. Through direct cooperation with Tencent, Flywire further simplifies the payment experience for students who pay international tuition fees and other education-related fees from China.

According to ▲ Tuyuan PexelsFlywire, WeChat Pay is one of the most popular digital wallet services in China, and consumers are deeply integrated into the Wechat ecosystem because Wechat allows users to chat, browse and pay within one App. Although Chinese students are eager to replicate this simple model when making large payments, they have been faced with a long and complicated process of paying tuition fees overseas because of various regulations and restrictions.

Flywire stressed that the cooperation with Tencent aims to make up for this regret and meet consumers' demand for a seamless payment experience. Through Flywire, Chinese students can use WeChat Pay to pay to educational institutions in their own currency (RMB), while higher education institutions will receive the same amount of local currency.

"this partnership ensures that we really become a 'payment button' for Chinese students using Flywire, and we hope to benefit students, families and educational institutions by providing localized and seamless payment functions," said Mohit Kansal, senior vice president of Flywire.

According to Flywire, the proportion of Chinese students in the world is second only to India. According to a new study by the Institute of International Education (IIE), China is the largest exporter of international students to the United States, contributing more than $10 billion to the U.S. Economy (CTOnews.com Note: currently about 71.7 billion yuan).

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