Flywire Expands Partnership with TenPay Global to Offer Weixin Pay to Chinese Students in South Korea and Malaysia

Core Insights - Flywire has partnered with TenPay Global to enhance payment options for Chinese students studying in South Korea and Malaysia, utilizing Weixin Pay for tuition payments [1][3] - The partnership aims to streamline the payment process, making it easier for Chinese students to pay in Renminbi (RMB) and ensuring institutions receive the full amount in local currency [3] Group 1: Partnership and Payment Experience - The collaboration with TenPay Global allows Flywire to integrate Weixin Pay directly into the payment journey for Chinese students, improving the overall payment experience [1][3] - This partnership is part of Flywire's strategy to digitize high-value payments in key educational markets, addressing the growing demand from Chinese students for localized payment solutions [3] Group 2: Market Dynamics - Chinese student enrollment in Malaysia has increased fivefold from 2019 to over 47,000 students in 2024, while South Korea hosts approximately 73,500 Chinese students in 2024, indicating a significant rise in student mobility within Asia [2] - Factors such as geographical proximity, cultural affinity, and affordability are driving this trend, making South Korea and Malaysia attractive destinations for Chinese students [2] Group 3: Company Overview - Flywire supports over 4,900 clients with diverse payment methods in more than 140 currencies across over 240 countries, showcasing its extensive global reach [6] - The company specializes in vertical-specific software and payment technology, integrating with leading ERP systems to optimize payment experiences for clients [5]