Payment processing provider PayMyTuition on Tuesday (Sept. 7) announced a partnership with international cross-border payments platform dLocal.
The collaboration will expand PayMyTuition’s ability to accept bank transfers from Mexico, Argentina, Peru and Nigeria, and will help to consolidate dLocal’s 600 payment method capabilities across more than 600 universities in the U.S. and Canada.
Via the One dLocal concept (one API, one platform and one contract), PayMyTuition is “expanding its capabilities to further power educational institutions to accept payments, send payouts and have the ability to settle funds globally,” according to the joint announcement.
The integration includes access to dLocal’s more than 600 local payment methods across Africa and Latin America.
“We are proud to be working with PayMyTuition to expand a simple and smooth access to education — from anywhere,” said Maia Grauer, VP, head of account managers at dLocal. “We have extensive experience across both Latin America and Africa, supporting hundreds of clients embracing the full potential these markets offer, and we look forward to putting that expertise to work in helping PayMyTuition achieve success in these regions.”
PayMyTuition aims to reduce school payments friction and uncertainty by guaranteeing disbursements and providing full tracking transparency to students within 24 hours. Students simply enter the amount they want to send to the university, select the country of origin and choose a payment method, per the announcement.
“We are excited to partner with dLocal in order to expand our capabilities across Mexico, Argentina, Peru and Nigeria, growing our presence even further around the globe,” said Lucas Laracy, director of sales at PayMyTuition. “This partnership supports our company’s overall initiative to ensure the facilitation of best-in-class local experiences for our customers looking to send international tuition payments abroad, while ensuring the transactions are secure and cost-efficient.”
Related news: PayMyTuition Rolls out B2B Supplier Payments Module
Last year, PayMyTuition rolled out an international vendor management module that handles international business payments by connecting with an educational institution’s enterprise resource planning (ERP) system.
PayMyTuition’s vendor payment module can connect to many student information systems, such as PeopleSoft and Banner, with the help of a live application programming interface (API).