ACI Worldwide and MTFX Simplify Payments for International College Students

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Globalization drives need for higher education institutions’ payments processes to adapt to international student needs

Wednesday, November 07, 2018

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NAPLES, FLA. —November 7, 2018— ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced it will join forces with MTFX Group, a leader in corporate foreign exchange and global payments, to provide international students with an affordable, simple way to pay their tuition and fees. MTFX’s Paymytuition platform will integrate and support ACI’s UP Bill Payments college commerce system, which offers students every way to pay, from full tuition payments, to payment plans, to delinquent collections. 

Educational institutions face several challenges when processing international payments including unidentified or missing payments, manual reconciliation processes, and cumbersome payment processes. By integrating ACI’s UP Bill Payments college commerce solution and MTFX’s Paymytuition platform into one simplified experience, international students in the U.S. and Canada will benefit from a convenient and affordable way to pay college bills. The solution allows students to pay in their home currency with the assurance that the funds will arrive at their educational institution without any hidden fees or surcharges.

Together with ACI, we are offering higher education institutions and students a customized payment solution focused on speed, cost, visibility, integration and compliance,” said Arif Harji, chief market strategist, MTFX Group. “Paymytuition offers students and schools complete visibility of the payment process at significantly better currency exchange rates than banks and competitors.” 

“As globalization continues to take place, more international students continue to invest in North American educational institutions, making it necessary for colleges and universities to adapt their payment processes to suit international student requirements,” said Andrew Sajeski, business leader, biller solutions, ACI Worldwide. “With MTFX, we are providing a superior bill payment experience at a lower cost to colleges and universities and their international students.”

More than 300 higher education institutions trust ACI Worldwide for improving student satisfaction and payments security with its college commerce systems. On average, higher education institutions report a 24 percent increase in student satisfaction after partnering with ACI Worldwide, according to independent third-party research.

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