Flywire adds PayPal for cross-border payments
Flywire, which got its start enabling cross-border tuition payments to key global markets before diversifying to other business niches including health care, is adding PayPal as a payment option in several major markets.
Boston-based Flywire is integrating PayPal for payers in Canada, the European Union, the U.K. and the U.S. to increase convenience for users who include businesses, students and patients sending funds through the international payments portal, usually in their home currency, Flywire said in a Monday press release.
Currently about 90% of the payments Flywire handles—which tend to be large—are conducted via bank transfer, but demand is expanding for alternative payment options, said Mike Massacre, Flywire’s CEO.
“We made this move because our clients and their customers wanted to have the option…and we are seeing increasing volume on credit card and eWallet,” Massacre said.
Flywire supports payments from 220 countries and territories in over 120 different local currencies.