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Tribal Group and TransferMate are excited to announce a partnership to simplify payments and refunds in international student admissions. SITS: Vision integrates TransferMate's benefits into all SITS universities' Single-Sign-On (SSO) web portals. The collaboration enhances efficiency, reduces administrative burdens, and improves the overall experience for SITS university teams and students.
Streamlining a critical process
Until now, SITS: Vison only offered card payment options to students. This resulted in user experience issues for students, being redirected to an external payment link. Through the new integration, leveraging TransferMate’s proprietary licensed infrastructure, students can now pay in their local currency via bank transfer. Students remain on the university portal and have a clearly defined pathway to enrol and make payments, reducing administration time for admissions teams.
Significant financial impact
The cost of accepting international student payments has long been a detriment to universities' revenue. By processing payments with TransferMate, SITS universities unlock substantial cost savings. Zero fees on international payments and preferential foreign exchange rates positively impact revenues for the university and help keep money in students’ pockets.
Enhanced features and benefits
- Streamlined process: SITS: Vision empowered universities can easily and securely receive payments, fully reconciled without delay.
- Real-time tracking: Admissions teams and students will know where their money is, from payment initiation to reconciliation.
- Payment options: The new integration includes flexible and familiar payment options, including local currencies via bank transfer for the first time.
- Zero international fees and charges: By integrating TransferMate, SITS has eliminated international fees and charges at all payment stages.
- Free automated refund solution: Funds are returned to the originating account, and all Know Your Customer (KYC) compliance is completed by TransferMate.
- Regulated and Secure: As a fully regulated Money Service Business (MSB), funds will be safe and protected as they move through our global network.
Leadership Insights
Faron Collier, Head of Project, Tribal, remarks, “Payments and onboarding are key to the Student Lifecycle, and a good student experience is paramount. Working with Transfermate allows us to extend our newest payment integration portfolio, which provides our customers with payment solutions tailored to the education market. Working with Transfermate allows us to ensure the right level of choice for our customers and helps us deliver the best experience to students and our customers alike as global recruitment becomes more significant.”
Tom Butler, Head of TransferMate Education and Student Housing, comments, “TransferMate’s regulated global payment infrastructure enables SITS: Vision universities to truly embrace a modern international student payment experience. Our partnership provides those universities with a streamlined, fully transparent, and cost-effective process in a way only TransferMate can.”
Adopting the new integration depends on the version of SITS: Vision the university is using and whether an upgrade is needed.
For more information on the SITS and TransferMate partnership, contact the team here.
