Global fintech firm Unlimit is joining forces with Convera, an FX payments firm, to bolster its ‘GlobalPay for Students’ platform and simplify tuition payments for students in emerging markets.
Initially kicking off in Brazil, the partnership will see Convera leveraging the comprehensive alternative payment method (APM) portfolio of Unlimit, in an effort to ease payment of cross-border tuition fees via the GlobalPay for Students platform using PIX.
PIX, which has established itself as one of Brazil’s most popular payment methods, boasts a user base of over 150 million customers. In 2023, nearly two-thirds of the country’s population used PIX for online payments.
By 2026, PIX could represent around 40 per cent of the online payments made in Brazil, according to a study by Ebanx earlier this year. With nearly 90,000 Brazilian students studying abroad, the ability to pay via PIX looks set to greatly simplify the lives of thousands of students.
Irene Skrynova, Unlimit’s chief customer officer at Unlimit, said: “The collaboration between Unlimit and Convera will simplify tuition payments for thousands of foreign students, keeping their focus on the most important thing: their education. This partnership reflects our ongoing goal to make payments truly borderless.
“We are helping Convera connect multiple universities worldwide to the most popular payment methods in the markets of their students’ origins. Together, we are redesigning the tuition payment landscape.”
Broadening educational borders
Following a launch in Brazil, both organisations plan to continue this mission by broadening the partnership to include other emerging markets where international education is gaining popularity.
Nicola Bennett, global director of product at Convera, also commented: “We are incredibly excited about our partnership with Unlimit to offer PIX online bank transfer for seamless student tuition and fee payments.
“As Brazil’s outbound student market continues to expand, we are thrilled to empower education providers globally to provide students with a simple payment experience. Convera also looks forward to continued collaboration with the Unlimit team to open up new markets and continue to make the student payment experience accessible and simple for payers across the globe.”
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