Case Study: PayMyTuition expands local payments and triples growth with Rapyd
Key results
The challenge
PayMyTuition enables families to pay tuition and student fees using their locally preferred payment methods and currencies. To grow, it needed to deliver popular local payment methods such as bank transfers across hard-to-reach markets in Latin America and the Asia Pacific region, where students and universities struggle to send and receive tuition and fees.
The solution
Using Rapyd Collect, PayMyTuition gained immediate access to a large network of banks and payment methods across Latin America and Asia Pacific, collecting funds in local currencies and settling in U.S. dollars to simplify foreign exchange and payouts to universities. Rapyd added payments in six countries: the Philippines, Thailand, Indonesia, Colombia, Peru and Chile.
“This partnership supports our company's overall initiative to ensure the delivery of best-in-class local experiences for our customers looking to send international tuition payments abroad while ensuring the transactions are fast, secure, and cost-efficient.”
AHArif HarijiChief Market Strategist, PayMyTuition
The results, in context
Rapyd helped PayMyTuition navigate its digital transformation and expand local payment options across Asia and Latin America in only three months, adding 38+ local payment methods and reaching millions of consumers. The company documented 3X growth in one year.