PayMyTuition adds EbixCash World Money as a Payment Partner for Student Payments from India
August 27 2019 - 7:31AM
Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of
On-Demand software and E-commerce services to the insurance,
financial, healthcare and e-learning industries announced that
PayMyTuition, a leading provider of technology-driven global
payment processing solutions for international tuition payments,
has added its EbixCash World Money remittance service to pay
international tuition fees to universities and colleges globally,
by parents for students from India studying abroad.
Headquartered in Toronto, PayMyTuition is part
of the MTFX Group of Companies, a foreign exchange and global
payments solution provider with a track record of 23+ years,
facilitating payments for over 8,000 corporate and institutional
clients across North America. Last year MTFX Group processed over
10 billion in currency exchange across 220+ countries in over 120
different currencies.
EbixCash is a global player in travel,
remittances, payment services and foreign exchange solutions
besides being the largest issuer of prepaid cards in the country.
EbixCash World Money combines more than 320,000 distribution
outlets spread across 5500+ cities, towns, and villages across the
country. EbixCash World Money’s significant foot print
in India coupled with a customer centric service approach will
broaden PayMyTuition’s reach in India. The country continues to be
one of the fastest growing sources of international students
globally.
PayMyTuition will integrate EbixCash World
Money’s payment platform as an option for students making payments
from India. This partnership will allow both companies to
offer substantial currency exchange savings as well as streamline
payment processes for remitters across India. The integrated
solution will also allow for efficiencies to be gained through
enhanced regulatory and compliance processes on outbound tuition
remittances.
Arif Harji, Chief Market Strategist at MTFX
Group said, “We are excited to be partnering with EbixCash World
Money to offer as an option for students and payers to make
international payments from India. EbixCash World Money’s footprint
in India coupled with their focus on technology allows PayMyTuition
to offer payers in India significant savings on tuition remittances
while offering local in-country customer support across
India”.
T C Guruprasad , CEO & Managing Director
said, “EbixCash World Money is delighted to be partnering
with PayMyTuition on this innovative solution. Our footprint in
India coupled with PayMyTuition’s direct integration into student
information systems offers an exciting opportunity to change the
international tuition remittance landscape in India”.
About PayMyTuition by MTFX
PayMyTuition is part of the MTFX Group of
Companies, a foreign exchange and global payments solution provider
with a track record of 23+ years, facilitating payments for over
8,000 corporate and institutional clients across North America.
Last year MTFX Group processed over 10 billion in currency exchange
across 220+ countries in over 120 different currencies. MTFX
has built its reputation on amazing people and great technology.
Using a blend of “high-tech” and “high-touch” solutions, MTFX has
grown to become a leader in online foreign exchange and global
payment services across North America. In addition to offering
incredibly competitive currency exchange rates, MTFX’s “high-touch”
24/7 multilingual customer support ensures that every transaction
not only meets but exceeds the level of service our customers
expect from us. MTFX is headquartered in Toronto,
Canada with its US headquarters in Jersey City, NJ. For more
information, visit the Company’s website at
www.paymytuition.com
About Ebix, Inc. and EbixCash
With 50+ offices across 6 continents, Ebix,
Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and
E-commerce services to the insurance, financial, healthcare and
e-learning industries. In the Insurance sector, Ebix’s main focus
is to develop and deploy a wide variety of insurance and
reinsurance exchanges on an on-demand basis, while also, providing
Software-as-a-Service ("SaaS") enterprise solutions in the area of
CRM, front-end & back-end systems, outsourced administration
and risk compliance services, around the world.
With a "Phygital” strategy that combines 320,000 physical
distribution outlets in many Southeast Asian Nations (“ASEAN”)
countries, to an Omni-channel online digital platform, the
Company’s EbixCash Financial exchange portfolio encompasses
leadership in areas of domestic & international money
remittance, foreign exchange (Forex), travel, pre-paid & gift
cards, utility payments, lending, wealth management etc. in India
and other markets. EbixCash’s Forex operations have emerged as a
leader in India’s airport Foreign Exchange business with operations
in 32 international airports including Delhi, Mumbai, Bangalore,
Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in
gross transaction value per year. EbixCash’s inward remittance
business in India conducts approx. $6.5 billion gross annual
remittance business, confirming its undisputed leadership position
in India. EbixCash, through its travel portfolio of Via and
Mercury, is also one of Southeast Asia’s leading travel exchanges
with over 2,200+ employees, 212,450+ agent network, 25 branches and
over 9,800 corporate clients; processing an estimated $2.5 billion
in gross merchandise value per year. For more information, visit
the Company’s website at
www.ebix.com
CONTACT:
Darren JosephIR@ebix.com or 678 281 2027
David Collins or Chris EddyCatalyst Global - 212-924-9800 or
ebix@catalyst-ir.com
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