peerTransfer, a provider of global payment solutions for the education industry, and Nelnet Inc. a campus commerce services provider for K-12 and higher educational institutions, are now providing clients with real-time payment status updates as part of a deeper platform integration.
The expanded partnership marks the second phase of peerTransfer’s integration with Nelnet, says Mike Massaro, chief executive officer of peerTransfer.
Nelnet clients can now deploy peerTransfer’s international payment solution in QuikPAY and will soon be able to deploy the solution in Nelnet’s eCommerce payment platform, Enterprise. This collaboration will enable a way for institutions to collect both international and domestic online payments.
Together, peerTransfer and Nelnet intent to provide an international payment experience where both the institution and the payer benefit. It’s a concept that one of its clients, The Massachusetts Institute of Technology, is looking forward to.
The Boston-based peerTransfer specializes in global payment solutions for the education industry, enabling thousands of international students and hundreds of institutions around the world to make and receive international payments.
Compared to using traditional banks, students receive lower fees on international payments, as well as have a user-friendly online experience. Institutions using peerTransfer’s free solution remain compliant with international regulations and save time and money by improving the processing and posting of international payments.
The expanded partnership between the two companies will also bring on additional Nelnet business units, including FACTS Management Company (K-12 tuition management services), Unilink Data Systems (Tuition management services in Australia), and FirstMark (Education Loan Servicing).