Flutterwave, a leading payments technology company in Africa, has launched a new payment product called “Tuition”.
Tuition is designed to make it easier for African students to pay tuition fees to educational institutions within and outside Africa.
What Tuition Aims to Solve
The traditional way of paying tuition fees for African students is to wire money through a bank. This process can be slow, expensive, and inconvenient.
Additionally, students often have to pay high fees to exchange their currency for the home currency of the institution they are attending.
Tuition solves these problems by providing a simple, fast, and affordable way to pay tuition. Students can use the platform to pay their tuition in their local currency, and the funds are transferred directly to the institution’s account.
Tuition is currently available in Nigeria for UK school fee payments. It will be expanded to other African countries in the coming months, and Flutterwave plans to add more schools in Africa, the UK, the US, Canada, France, and Germany as it expands access to the product.
In addition to making it easier for students to pay tuition fees, Tuition also provides benefits for educational institutions.
The platform can help institutions to automate reconciliation processes and streamline administrative workflows.
It also provides real-time reporting, allowing institutions to track payment statuses, identify outstanding balances, and reconcile payments efficiently.
This reduces administrative burdens, minimizes errors, and enhances financial management processes, ultimately improving the institution’s overall operational efficiency.
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Flutterwave CEO Giving More Details on “Tuition”
Flutterwave CEO Olugbenga Agboola speaking on this said,
“We are excited to launch Tuition to support the dreams of African students across all levels who want to study anywhere without worrying about how to meet the deadline for their school fees payment. With Tuition, we are providing a safer, reliable, and affordable means for African students to pursue their dreams and seamlessly get financial support from parents, guardians, and sponsors.”
Product Manager Stella Elele said, “We are always looking for ways to make payments in Africa seamless, and we are sure the product will be a game-changer. We are excited to offer this solution to parents in Nigeria, with plans to eventually roll out the service to other African countries. We want to provide our customers the best possible service and support.”
Conclusion
Tuition is a significant development for Flutterwave, as it demonstrates the company’s commitment to providing innovative payment solutions that meet the needs of African businesses and consumers.
The platform is also a valuable resource for African students, as it makes it easier for them to pursue their educational dreams.
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