Convera, a global leader in commercial payments, has announced an embedded payments solution for the education industry in a new partnership with Ascent One , the world’s first ecosystem built specifically for the education industry . The solution aims to simplify international remittances for education agents and international students, addressing a key challenge in the education industry. By integrating Convera’s embedded payments solution into their systems, education institutions can provide a seamless online payment experience to their education agents and international students.
The new solution reduces the complexity and errors often associated with current online payment processes by embedding Convera’s international tuition payment platform, GlobalPay for Students , directly into institutions’ websites and management systems. This eliminates multiple redirects and allows students and education agents to securely execute large international transfers through a single interface. This streamlining reduces confusion and allows both students and education agents to use a variety of payment methods, transparent pricing, and pay in local currency. It also removes intermediary bank fees, providing a better and more efficient user experience and ensuring that payments reach institutions in full and on time.
Ascent One brings a frictionless payment experience to education agents by integrating Convera’s embedded payment solution. Education agents play a key role in guiding students’ university choices and future academic careers. Educational institutions are increasingly relying on education agents to meet their international student recruitment goals, making streamlining the process essential. Ascent One facilitates education agents’ ability to assist students in studying abroad around the world, especially in major countries. By partnering with Convera, Ascent One agents can seamlessly assist students in paying for tuition and education-related payments.
Naresh Gulati, CEO of Ascent One, said, “We are excited to partner with Comvera as our primary global payments partner. Leveraging Comvera’s embedded payments solution on our platform, we are now able to enable education agents across 167 countries to seamlessly manage every stage of a student’s academic journey in one place – from recruitment to enrollment to processing payments on behalf of the student. Comvera’s strong reputation and trust within the education industry, combined with their unmatched global reach, made them an easy choice for us to partner with. Their global financial network, knowledge of international payments, and robust compliance and security measures were the key reasons we chose Comvera.”
Julie Armstrong, vice president, general manager and global head of Industry Solutions & Partnerships at Convera, added, “Through our partnership with Ascent One, we are now able to offer education agents a solution with our new embedded payment solution, enabling institutions and agents to process student payments securely and efficiently. For many students and their families, paying tuition fees is one of the biggest transactions of their lives, and we want to ensure they can do so with confidence and security. Through our partnership with Ascent One, we not only simplify the payment process, but we also provide students with peace of mind knowing their payment will be received in full and on time by their institution, helping them focus on what matters most: their studies.”
Convera is trusted by over 1,000 educational institutions worldwide, including 8 of the top 10 globally ranked universities. Educational institutions choose Convera because of its customized solutions, support for 140+ global currencies, robust compliance, and student-centric approach. Convera helps educational institutions eliminate payment complexities, creating payment solutions that are easy for students and institutions to manage. Whether it’s reconciling student tuition payments, paying international employees, or issuing U.S. student loans, Convera gives educational institutions access to competitive exchange rates and advanced reporting tools to help them get more value from every transaction.
SOURCE: BusinessWire