Flywire’s International Payment and Receivables Business Thrives in Spain

Expanded services help fuel strong growth in Spain and across Europe 

Flywire, a provider of international payment and receivables solutions for businesses, schools and healthcare providers, is reporting strong growth in Spain. The company, which recently expanded its European headquarters in Valencia, has added new services to support international payments from new regions, added new payment options, and created educational forums for customers and partners.

Originally founded in 2011 in Valencia, Flywire serves both educational institutions in Spain targeting international students, as well as those students and families they receive cross-border payments from. To date, the company has processed over $5 billion in international payments and established its platform as the preferred solution around the globe for cross-border payments and receivables processing. With Flywire, schools around the world can offer their customers a highly-tailored, international payment experience – customized by country, currency and institution. In addition, school financial and operations teams benefit from easy payment tracking and reconciliation.

In Spain, there are a number of recent highlights and milestones for the company:

Increased Number of Payments Processed

Flywire has seen a 200+% increase in the volume of payments processed in the last 2 years – both in Spain and across Europe, with expectations for similar growth in the next 12 months.

Increased Number of Clients Served

The company has also doubled the number of schools it serves in Spain. Recent additions to the Flywire client list include IESE, ESADE, and UCAM.

Employee Growth

As the original corporate headquarters for Flywire, Valencia is an important base for the company, and home to much of the company’s engineering team and administrative operations. The company continues to grow the team in Valencia and across Europe with a 60% increase in the last 12 months. For more information on available positions, visit https://www.flywire.com/careers.

New Payment Options for Latin American Students

Spain has seen a sharp increase in the number of students traveling from Latin America for their education in recent years, +27% last year alone.  To support this demand, Flywire has added new payment options to ensure students originating in Latin America can pay via their preferred local methods – credit card, bank transfer, or payment wallet options; and in local currencies as well as US dollars and Euros.

Expanded International Coverage

In addition to Latin America, Flywire has also expanded its support for payments across the globe. The additions of Alipay in Asia, and PayPal worldwide give international students attending schools in Spain more payment options and make those cross-border payments as convenient as possible.

Thought Leadership

Flywire is hosting two FlyForums in Spain this month. The thought leadership events are part of a global series designed to bring together education institutions doing business internationally to discuss and share their thoughts on some of the key issues surrounding international student recruitment, cross-border payment processing, security, and customer service. The first took place in Madrid on 10 October and another is scheduled for Barcelona on 26 October. Key discussion topics include compliance, money laundering prevention, and international recruitment support.

“Spain has become an increasingly popular destination for International education,” said Mike Massaro, president and CEO of Flywire. “We expect to continue to play a small but important role in that growth by making the cross-border payment process as easy, efficient and transparent as possible for schools and their international students.”

Flywire is a leading provider of international payment solutions, connecting businesses and institutions with their customers on six continents. Introduced six years ago as a way for international students to pay their tuition for studies abroad, Flywire is now used by over 1,300 organizations across 18 countries around the world. The company processes billions in payments per year from 220 countries and territories, via bank transfer, credit card and e-wallet solutions, in over 120 different local currencies. Convenient, fast and secure, Flywire’s scalable platform provides currency conversion at exchange rates that can offer significant savings when compared to home-market banks and credit card providers. The company also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as 24/7 online payment tracking.

Flywire is headquartered in Boston, MA with operations in London and Manchester, UK; Shanghai, China; Tokyo, Japan; Singapore; Sydney, Australia; and Valencia, Spain. For more information, visit www.Flywire.com