Skip to main content
Add as a preferred source on Google


2 Companies Team Up To Streamline International Student Payments

  • By Dian Schaffhauser
  • 11/05/10

Two companies are working together to give institutions an easier way to collect tuition and other payments from international students studying in the United States. Higher One Payments, which offers a student ID card blended with debit card capabilities, and Travelex Global Business Payments, which sells applications for handling international payments and foreign exchange, have teamed up to add features to Higher One's CashNet electronic payment service. Higher One acquired CashNet, a higher ed payment processing company, in November 2009.

Dealing with international payments has presented challenges to colleges and universities, according to Higher One. As the company explained in a statement, "Often a school would receive a large lump sum wire and then be forced to devote valuable staff time to tracking the funds in order to determine where the payment should be applied. Wires are also time-consuming and costly for students, and exchange rates are variable and fluctuating."

The new offering from Higher One and Travelex, scheduled for release in early 2011, is expected to be more streamlined, cost less than traditional international payment processing, and, interestingly, lock in a competitive exchange rate.

"Based on client feedback, we know that international payments are an area that needs improvement," said Dean Hatton, Higher One's CEO. "The Higher One-Travelex partnership addresses the concerns of a more global student culture and will offer easier backend processing for school administrators."

The topic of accepting international payments through Travelex is part of the agenda for Higher One's upcoming user group conference, taking place Nov. 14 through 19, 2010 in Napa, CA.

About the Author

Dian Schaffhauser is a former senior contributing editor for 1105 Media's education publications THE Journal, Campus Technology and Spaces4Learning.

Featured

  • blue wooden cubes block texture abstract background

    Gartner Estimates Worldwide IT Spending at $6.31T for 2026

    Gartner recently forecast that worldwide IT spending will total $6.31 trillion in 2026, a 13.5% increase from 2025. Sectors experiencing the largest growth include data center systems, software, and IT services.

  • Neon blue security locks with a single red highlight

    AI Shifts Cybersecurity Focus from Finding Flaws to Fixing Them

    For decades, one of cybersecurity's most difficult challenges has been finding vulnerabilities before attackers do. A growing number of security professionals now say artificial intelligence is changing that equation, shifting the focus from discovering flaws to fixing them quickly enough to prevent exploitation.

  • Jason Palm

    AI, Identity, and Speed: Cybersecurity Priorities for Higher Ed

    Fortinet Security Operations Specialist Jason Palm explains how AI is raising new security challenges for higher education, requiring stronger governance, identity protection, threat detection, automation, and incident readiness.

  • CIS Sandbox Tutor Eli Blouin at Bentley University imagines a future technology learning partner that supports curiosity, critical thinking, feedback, and personalized learning.

    Student Voices: Technology as a Future Learning Partner

    A data analytics and marketing major at Bentley University and a distinguished lecturer at the university explore the future of "technology learning partners" — technologies that participate in the learning process by asking questions and giving feedback, not just information search results.