African payments to overseas schools have been hindered by a myriad of challenges. From the high cost of transactions, limited access to banking services, lack of transparency, security concerns, and currency exchange rates, African students have faced difficulties in ensuring that their funds are disbursed within the shortest time possible to overseas financial institutions.
To address this, Nigerian fintech Flutterwave has launched Tuition, a new payment product to allow African users to conveniently pay various fees to educational institutions within Africa and overseas using their local currencies.
The educational institutions available on Tuition include high schools, universities, colleges and some global edutech platforms.
Tuition is designed to solve the challenges in paying school fees for students studying abroad and at home and aims to ensure payments ease when making the transactions. The new service enables students, parents, guardians and sponsors to pay school fees to over 40 institutions in the UK, with plans to add more institutions in more countries in Africa and beyond.
The new product will leverage Flutterwave’s world-class payments technology solution to make school fee payments more convenient, secure, and reliable. Parents, guardians, and sponsors can now pay directly to learning institutions in the UK and easily track their transactions by checking the status and history on the Tuition web app.
“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.”
Speaking on the new product launch, Stella Elele, Product Manager of Tuition by Flutterwave’’ Olugbenga “GB” Agboola, Flutterwave CEO, commented on Tuition by said.
“We are always looking for new ways to make payment challenges in Africa hassle-free, and we are confident that Tuition will be a game changer for parents who want to support their children’s education. 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 the best possible service and support for our customers.”
The product is currently available in Nigeria for UK school fees payments and will soon be rolled out to other African countries in the coming months. Flutterwave also plans to add more schools in Africa, the UK, US, Canada, France and Germany as it grows access to the product.