Globalization drives need for higher education institutions’ payments
processes to adapt to international student needs
NAPLES, Fla.--(BUSINESS WIRE)--Nov. 7, 2018--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, today announced it will
join forces with MTFX Group, a leader in corporate foreign exchange and
global payments, to provide international students with an affordable,
simple way to pay their tuition and fees. MTFX’s Paymytuition
platform will integrate and support ACI’s UP Bill Payments college
commerce system, which offers students every way to pay, from full
tuition payments, to payment plans, to delinquent collections.
Educational institutions face several challenges when processing
international payments including unidentified or missing payments,
manual reconciliation processes, and cumbersome payment processes. By
integrating ACI’s UP Bill Payments college commerce solution and MTFX’s
Paymytuition platform into one simplified experience, international
students in the U.S. and Canada will benefit from a convenient and
affordable way to pay college bills. The solution allows students to pay
in their home currency with the assurance that the funds will arrive at
their educational institution without any hidden fees or surcharges.
“Together with ACI, we are offering higher education institutions and
students a customized payment solution focused on speed, cost,
visibility, integration and compliance,” said Arif Harji, chief market
strategist, MTFX Group. “Paymytuition offers students and schools
complete visibility of the payment process at significantly better
currency exchange rates than banks and competitors.”
“As globalization continues to take place, more international students
continue to invest in North American educational institutions, making it
necessary for colleges and universities to adapt their payment processes
to suit international student requirements,” said Andrew Sajeski,
business leader, biller solutions, ACI Worldwide. “With MTFX, we are
providing a superior bill payment experience at a lower cost to colleges
and universities and their international students.”
More than 300 higher education institutions trust ACI Worldwide for
improving student satisfaction and payments security with its college
commerce systems. On average, higher education institutions report a 24
percent increase in student satisfaction after partnering with ACI
Worldwide, according to independent third-party research.
About ACI Worldwide
ACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 organizations around the world. More
than 1,000 of the largest financial institutions and intermediaries, as
well as thousands of global merchants, rely on ACI to execute $14
trillion each day in payments and securities. In addition, myriad
organizations utilize our electronic
bill presentment and payment services. Through our comprehensive
suite of software solutions delivered on customers’ premises or through
ACI’s private
cloud, we provide real-time, immediate
payments capabilities and enable the industry’s most complete omni-channel
payments experience. To learn more about ACI, please visit www.aciworldwide.com.
You can also find us on Twitter @ACI_Worldwide.
About MTFX Group
MTFX Group is a leading provider of
integrated cross-border payments and receivable solutions. As a trusted
partner for more than 20 years, MTFX Group delivers innovative solutions
and processes billions in payments yearly. MTFX Group offers
award-winning capabilities and industry leading technologies in just
about every business category. We support our clients with end-to-end
multilingual customer support and online payment tracking capabilities
that are available 24/7. As a proven payment disruptor, we are flexible
and responsive, with offices and applicable licensing and regulatory
approvals in the United States and Canada. For more information visit www.mtfxgroup.com
and www.paymytuition.com.
© Copyright ACI Worldwide, Inc. 2018.
ACI, ACI Worldwide, ACI
Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP logo,
ReD, PAY.ON and all ACI product names are trademarks or registered
trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the
United States, other countries or both. Other parties’ trademarks
referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not be
incorporated into a contract or agreement. The development release and
timing of future product releases remains at ACI’s sole discretion. ACI
is providing the following information in accordance with ACI's standard
product communication policies. Any resulting features, functionality,
and enhancements or timing of release of such features, functionality,
and enhancements are at the sole discretion of ACI and may be modified
without notice. All product roadmap or other similar information does
not represent a commitment to deliver any material, code, or
functionality, and should not be relied upon in making a purchasing
decision.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181107005065/en/
Source: ACI Worldwide
ACI Worldwide
Dan Ring, 781-370-3600
dan.ring@aciworldwide.com
or
Nidhi
Alberti, 781-370-3600
nidhi.alberti@aciworldwide.com
