FACTS Partners With Global Payments Provider MTFX by Way of PayMyTuition

Rhea-AI Summary

FACTS, a division of Nelnet (NYSE: NNI), announced a partnership with MTFX Group to enhance international tuition payment options for K-12 schools. This collaboration integrates the PayMyTuition platform, allowing real-time payment transactions for international families. The partnership aims to facilitate cross-border tuition payments quickly and cost-effectively, improving existing processes for refunds and payment choices. FACTS serves over 11,500 schools, managing $9 billion in tuition funds annually, and is committed to enhancing educational affordability and stability.

Positive

• Partnership with MTFX enhances international payment options for tuition.
• Integration with PayMyTuition provides real-time payment solutions.
• Existing clients gain more choices for international tuition payments.
• FACTS manages $9 billion in tuition funds annually, indicating a strong financial foundation.

Negative

• None.

LINCOLN, Neb., July 28, 2020 /PRNewswire/ -- FACTS, a division of Nelnet, Inc. (NYSE: NNI), will be enhancing international tuition payment options for K-12 schools within its platform as part of a new partnership with MTFX Group's innovative international payments solution for education, PayMyTuition.

"FACTS has linked to international payment providers in the past, but this partnership incorporates PayMyTuition's feature-rich digital payments capability directly into our platforms with real-time integrations," said Scott Spethman, President of FACTS. "We're thrilled to provide additional payment resources for our international parents and students to choose from for tuition and fee-related transactions."

"Partnering with FACTS to be able to offer our innovative solution for international tuition payments by way of PayMyTuition will enable their educational institutions to provide a great alternative for students and families when transferring tuition across borders," said Arif Harji, Chief Marketing Strategist, MTFX Group. "Adding this payment solution as an option for FACTS' education partners, allowing cross border transfers to be completed by the click of a button, will empower families to make the best, most cost-effective, choice for their students who are studying abroad."

"PayMyTuition has provided a unique alternative transactional solution for our international families to receive refunds quickly. Their integrated system streamlined a cumbersome existing procedure and removed the obstacles within our international tuition refunds process," said Betsy Heymann, Controller at The Lawrenceville School.

This partnership and platform integration creates additional benefits for existing FACTS clients. "We are now able to provide our school customers with more payment choices for their international families to make tuition payments," said Spethman.

About FACTS

FACTS, a division of Nelnet, Inc. (NYSE: NNI), is located in Lincoln, Nebraska, and is committed to making educational dreams possible for families and students, as well as enhancing the financial stability and affordability of educational institutions. FACTS serves more than three million students and families at over 11,500 schools, and manages $9 billion in tuition funds annually. FACTS offers a comprehensive suite of services, including tuition management, payment processing, financial needs assessment, online application and enrollment, online payment forms, development and advancement tools, student administration software, and a learning management system. FACTS Education Solutions provides meaningful and sustainable professional development services to educators at all grade levels through online courses, custom workshops, and leadership coaching. For more information, visit FACTSmgt.com.

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. 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.

View original content:http://www.prnewswire.com/news-releases/facts-partners-with-global-payments-provider-mtfx-by-way-of-paymytuition-301101563.html

SOURCE FACTS

FAQ

What is the new partnership announced by Nelnet's FACTS?

Nelnet's FACTS announced a partnership with MTFX Group to enhance international tuition payment options for K-12 schools.

How does the partnership with MTFX benefit FACTS clients?

The partnership allows FACTS clients to offer more payment choices for international families, facilitating quick and cost-effective tuition payments.

What financial services does FACTS provide?

FACTS offers tuition management, payment processing, financial needs assessment, and more, managing over $9 billion in tuition funds annually.

What system is integrated into FACTS for payment processing?

PayMyTuition's feature-rich digital payments capability is integrated into FACTS for real-time international payment processing.