Partnership between Bexs and PayMyTuition optimizes payments for foreign courses, expanding access for Brazilians.
According to the 2018 Higher Education Census, conducted by the Ministry of Education, Brazil has over 8.3 million university students. A considerable part of this number study via distance learning: between this census to the previous one, there was a robust increase in students making use of this means of learning, from 15% to 34%.
The consolidation of this trend, together with the growing number of Brazilians with internet access and their tradition of seeking courses abroad, has brought together PayMyTuition and Bexs Banco, with its payment and FX solutions. A well-known Canadian payment provider with over 8,000 accredited educational institutions in North America, the company saw this partnership as an opportunity to scale and optimize course sales platforms in Brazil.
“Brazilians want to study abroad, but run up against the bureaucratic payment process. With our platform, in partnership with PayMyTuition, we can offer online flow, reducing costs and bureaucracy”, emphasizes Bexs CEO Luiz Henrique Didier Jr.
Traditional international payment providers usually take 2 to 4 days to transfer students’ fees from Brazil. Bexs provides the same service in less than 24 hours. Another point to highlight is the variety of local payment methods available on the platform, suited to Brazilian habits and culture. Such flexibility makes the dream of studying abroad much simpler by solving one of the main “headaches” in the process of paying for the course abroad.
Arif Harji, chief market strategist for MTFX Group and owner of PayMyTuition, highlights this flexibility as essential for his business. “This partnership will ensure students have flexibility in making payments, with our international payment plan solution and the most competitive rates, allowing them to concentrate on constructing their academic future.”
The financial benefits for students described by Arif Harji are the result of Bexs’ expertise. Its normative and procedural know-how, acquired over 30 years of operating in the Brazilian market, provides students with more competitive FX fees; on average, 50% lower than those charged by other players.
The main reason we chose Bexs as a local partner was its qualification. “Brazil is one of the largest markets for international students studying in North America. The partnership with Bexs is vital for our growth strategy, enabling us to offer a secure payment solution, besides making the values more accessible for Brazilians”, explains Harji.
Social distancing due to the pandemic has intensified the project to expand PayMyTuition’s customer base in Brazil. Hundreds of educational institutions have expanded their e-learning provision, and Google has signaled a 130% growth in searches for distance learning programs during social isolation. The World Economic Forum forecasts global investment of USD 350 billion in Edtechs in the year 2025.
Providing fluid online platforms, with local payment methods and embedded FX conversion seems essential for foreign businesses targeting Brazil as a destination.
Contact our team of experts to find out how to optimize your online payment platform in Brazil. Access our website to learn more.
Are you split between a Payment Service Provider or payment gateway for your online business? Here are 3 characteristics making […]
Find out what live commerce is, how it can boost your local or cross-border e-commerce business and what you need […]
While NFC contactless payments have been widely adopted by physical retailers, QR Code payments are a local and cross-border e-commerce […]
Cross-border expansion, online mobile sales, the most successful categories and more: check out the insights and numbers for Brazilian e-commerce. […]
Learn about chargebacks, how they can impact your e-commerce business and how to minimize payment reversals. The overall […]
Find out how to increase data security using antifraud solutions for online payments. Trust is a critical factor […]
Discover new online payment options and check out the data on Brazil’s Open Banking The last of Brazil’s […]
Credit in purchases, which have been very popular in Brazil for quite a while, are also a recent trend in […]
Check out the latest news about the new foreign exchange regulation and understand how access to international transfers has become […]
Find out what a payment service provider can do for your business and what to consider when choosing a solution […]
Discover what PCI Compliance/DSS is and why is it important for e-commerce. PCI Compliance, PCI DSS or Payment […]
Find out what social commerce is and how this channel can help your business grow. After social isolation […]
Check out some data from the last Black Friday in Brazil and insights to boost sales for this market. […]
Check out some reasons to adopt payment links when billing products or services The e-commerce market is the […]
A payment API facilitates your company’s routine and benefits customers with a wide range of payment methods. Know more! […]
See how the money transfer through message application works and WhatsApp Pay impact on Brazilian payments. Since May […]
Check out what is already known about Digital Real and the possible impacts of digital currency in Brazil Digital […]
Find out which niches are most sought after by Brazilians in online shopping and which are the most sold products […]
Find out the difference between recurring and installment payments and which of these payment methods is right for your business. […]
Do your e-commerce customers back out when it’s time to pay? Understand how to get around that behavior. […]
The cross-border e-commerce expansion also involves reducing delivery times. Learn how important it is to track your purchases to avoid […]
Find out how receiving money through Pix can be beneficial for your business
A summary about the news and the possibilities of transformation of the Brazilian Financial System.
Welcome to the Chinese new year 4719, ruled by ox and the metal element. Understand more about this date and […]
Even with the pandemic and the exchange rate fluctuation, online shopping from China is a growing trend that will continue […]
We explain payment gateways and payment providers (PSPs) to help you choose the best e-commerce option. Payment […]
Record digitization and a thriving innovation ecosystem. Understand the reasons for placing the region, and especially Brazil, in your expansion […]
The already growing demand increased with the pandemic, but the bottlenecks in payments for software impact the daily life of […]
Understand what pix is, how it came up and what is its impact in the future Brazilian payment market.
Double Eleven is celebrated in China, breaking sales records every year, and is now consolidating expansion to Brazil.
Learn more about this trend from the United States that has become one of the biggest shopping dates in Brazil, […]
The partnership between the company and Bexs Bank demonstrates the importance of adapting to the market with growing demand for […]
How the coronavirus outbreak has accelerated the digital revolution in education globally and the barriers to consolidating this learning tool.
See the latest Webshoppers 41 figures from eBit|Nielsen, which is the largest survey of online sales in Brazil.
Our CEO, Luiz Henrique Didier Jr., presented on The Paypers some articles about payment industry and solutions, on the particularities […]
The number of unbanked people has created trends and solutions that break down barriers to their inclusion with regard to […]
Bexs Bank brings insights about this segment that transformed cultures around the world, posts double-digit annual growth and shows highly […]
The barriers in companies for transactions involving forex hinder internal processes and the productivity of areas.
Learn more about installments, an unique method commonly adopted by Brazilians to purchase a wide range of goods and services.
Learn more about the subscription business model that is changing consumption patterns and remaking the economy.
Learn more about the importance of APIs to international business strategies and cross-border payment processing.
Brazilians are gaining more access to various products from Chinese online merchants thanks to easier payment and delivery process.
Bank slip is a payment method that is part of the daily life of millions of Brazilians. Find out all […]
Brazilian consumers are increasingly engaged in buying various products at competitive prices from international websites, despite the logistics and customs […]
The e-commerce market in Brazil is huge, but companies aiming to operate in the country must understand peculiarities regarding buying […]
In the world of payments, each country has its particularities. Brazil is no exception.