INTERNATIONAL VENDOR PAYMENTS
Want an innovative solution for processing cross border vendor payments?
PayMyTuition offers an innovative set of solutions enabling institutions to take control of their outgoing payments. PayMyTuition’s Payment Hub offers institutions an efficient and automated way to collect payee details and send international payments while supporting payments to over 170 countries in 120+ currencies at extremely competitive foreign exchange rates.
Payment Hub addresses the most critical cross-border challenges facing institutions today by greatly diminishing the number of returns and investigations associated with international payments, improving the efficiency of collecting payee banking details, and reducing the overall costs associated with sending international payments.
PayMyTuition’s innovative vendor payment solution solves these challenges by capturing complete and accurate payment data and properly formatting payee detail using automation and cloud technology. Once the information has been entered, Payment Hub completes a further validation through an integrated SWIFT/BIC database. When all required data is provided and validated, PayMyTuition will immediately update beneficiary information within the institution’s portal for use in future payment processing.
Benefits and Features
Payment Hub offers a smarter way to capture complete and accurate payment instructions from your end beneficiary using automation and cloud technology.
Payment Hub greatly diminishes the number of returns and investigations associated with international payments.
Institutions can utilize Payment Hub to convert paper cheques to electronic payments, register vendors more quickly and accurately, and automate the collection of large volumes of data more securely.