Flywire and Workday Team Up to Transform Student Payment Solutions
Flywire has partnered with Workday to modernize payment solutions for universities. This certified integration aims to streamline student billing and payment processes, reducing administrative workloads through digital options directly on campus.
Transforming Student Payment Solutions
This collaboration enables universities using Workday Student to manage billing and payments efficiently with Flywire’s platform. The integration includes real-time data synchronization and automated payment posting, plus tools like payment plans and 529 disbursements, all working seamlessly together without major system changes.
Benefits for Educational Institutions and Students
- Up to 40% reduction in billing inquiries and manual tasks.
- Varied payment options and enhanced security for students and families.
- Multilingual support to cater to a diverse student base.
Market Impact and Growth
Following the announcement, Flywire’s shares rose by 1.34%, reaching $12.81. The education technology sector is expanding as universities seek to modernize. The rise in global student populations and demand for digital experiences drive this trend.
The digital payments sector in education is expected to hit $46 billion by 2027, according to Technavio. Firms like Flywire and Workday, providing smart integrated solutions, are well-positioned to secure larger contracts as institutions boost tech investments.
Global Digital Transformation
This partnership reflects a broader movement to update outdated systems, maintaining a competitive edge globally. Automated payment systems enhance administrative efficiency and transform campus operations worldwide.
As financial constraints and expectations heighten, digital collaborations that eliminate red tape and improve student experiences are likely to become standard in higher education.
