Tuesday, July 21, 2020: TransferMate, one of the world’s leading cross-border B2B payments providers, and TouchNet, the leading provider of integrated and secure commerce and credential solutions for universities, today announced the launch of a custom integration solution designed to help higher education institutions solve payment challenges. Through the partnership, TouchNet’s university customers will have access to TransferMate’s education payments portal and benefit from TransferMate’s broad global regulatory footprint. This new offering will come at no additional cost to the school or student.
TransferMate, with its cross-border payments capabilities covering 162 countries across Europe, North America, Asia, and the Middle East, will help TouchNet expand its presence and ability to deliver a secure, intuitive payment portal for students from these countries who are studying abroad in the United States and Canada. International students and authorized users can pay their tuition and fees, books and accommodation expenses in their local currency or by domestic bank wire through the new solution. TransferMate’s adherence to strict licensing around the world will ensure these payments are processed in a timely and secure manner. In addition, TouchNet customers will benefit from preferential foreign exchange rates to ensure more cost effective payment options for students and families.
Speaking about the announcement, Terry Clune, Executive Chairman of TransferMate, said: “TransferMate is delighted to partner with TouchNet to make the payments process for universities easier and more efficient. Much like TransferMate, TouchNet focuses on solving pain points for administrators, and we are proud to announce this partnership. With our solution, we are easing the administrative burden of payments on universities and allowing students to focus on their studies instead.”
Adam McDonald, President of TouchNet said: “With their global reach and ability to process 134 currencies, we are thrilled to be working with TransferMate to further expand and enhance TouchNet’s international presence. As a leading provider of higher education technology solutions, our work with TransferMate will further our delivery of the advanced and leading-edge payment solutions our customers have come to expect from us.” McDonald added, “Our payment engine simplifies payments acceptance campuswide for tuition, events, sponsor accounts, and more.”
About TransferMate Global Payments
TransferMate – a part of the Taxback Group – is a global B2B payments technology firm, enabling companies to send and receive cross-border payments faster and easier than ever before. TransferMate has built one of the largest portfolios of payments licences worldwide, including in 51 US states and territories, to support trading in 162 countries and 134 currencies. Leading banks, fintechs & software providers partner with TransferMate to offer an enhanced user experience for their business customers. Using TransferMate’s technology and global banking infrastructure, companies benefit from better exchange rates, greater transparency and improved reconciliation via direct integration into accounting and ERP systems.
The unique TransferMate offering has also attracted major strategic investments from leading banks such as ING Group N.V. and Allied Irish Bank, who have cumulatively invested €51 million in the company.
TouchNet is a leading provider of integrated, comprehensive, and secure commerce and credential solutions for colleges and universities. Institutions of higher education rely on TouchNet to unify and secure payments, permissions, and other related business transactions campus wide. TouchNet’s unmatched integration, transparency, and security gives institutions greater control over transactions, costs, and compliance, while providing greater operational efficiencies and self-service access to real-time information. Touchnet is a Global Payments company (NYSE: GPN).