Commercial payments company Convera has launched an embedded payments solution tailored for the education sector through a new partnership with Ascent One.
The latest offering aims to streamline cross-border payments for education agents and international students in a move to address the significant challenge in the industry.
Through the integration of Convera’s embedded payments solution directly into their systems, education institutions will offer education agents and international students a frictionless online payment experience.
The solution embeds Convera’s international tuition payment platform GlobalPay for Students into education institutions’ websites and management systems.
This is expected to help clients with the overwhelming and error-prone nature of current online payment processes.
Besides, the integration eliminates the need for multiple redirects, allowing students and education agents to complete substantial cross-border payments through a single, secure interface.
The solution offers a range of payment methods, transparent pricing, and the ability to pay in local currencies, helping to reduce confusion and avoid intermediary bank fees. It also ensures that payments are received in full and on time by the educational institution.
Convera vice president, general manager and industry solutions and partnerships global head Julie Armstrong said: “For many students and their families, paying for their education tuition is one of the biggest transactions they will make in their life. We want to ensure they can do so with confidence and clarity.
“Through our partnership with Ascent One, we’re making it easier for students to focus on what is most important – their studies – by not only simplifying the payment process but giving them the peace of mind that their education institution will receive their payment in full and on time.”
For Ascent One, the incorporation Convera’s embedded payments solution is aimed to enhance the payment experience for education agents.
The collaboration also enables Ascent One agents to facilitate tuition fees and other education-related payments more efficiently.
Ascent One CEO Naresh Gulati said: “By leveraging Convera’s embedded payments solution into our platform, education agents across 167 countries can seamlessly manage any part of the student’s study journey from recruitment to admissions to facilitating payments on the student’s behalf all from one place.
“It was an easy decision for us to choose Convera for their strong reputation, unparalleled global reach and trust within the education industry. Convera’s global financial network, cross-border payments knowledge, and robust compliance and security measures were driving factors for us.”
