Convera, a global leader in commercial payments, introduced its embedded payments solution for the education industry through its new partnership with Ascent One, the worldâs first ecosystem purposely built for the education sector. This solution aims to simplify cross-border payments for education agents and international students, addressing a key challenge in the education industry. By integrating Converaâs embedded payments solution into their systems, education institutions can provide education agents and international students with a seamless online payment experience.
The new solution embeds GlobalPay for Students, Converaâs international tuition payment platform, directly into education institutions’ websites and management systems, addressing the often overwhelming and error-prone nature of current online payment processes. By eliminating the need for multiple redirects, students and education agents can now securely complete large cross-border payments through a single interface. This streamlined approach reduces confusion and offers both students and education agents a flexible range of payment methods, transparent pricing, and the ability to pay in their local currency. Additionally, students and education agents can avoid intermediary bank fees, get a better, more efficient user experience and be assured that their payments arrive in full and on time to their education institution.
Ascent One has integrated Converaâs embedded payments solution to offer a frictionless payment experience for education agents. These agents are instrumental in guiding students through their university selection and future academic journey. Education institutions increasingly rely on education agents to meet their international student recruitment goals, and having streamlined processes are essential. Ascent One empowers education agents to aid student mobility worldwide, particularly in key destination countries. Together with Convera, Ascent One agents can now assist students with the facilitation of tuition fees and other education related payments.
âWeâre excited to work with Convera and have them as our primary global payments partner. By leveraging Converaâs embedded payments solution into our platform, education agents across 167 countries can seamlessly manage any part of the studentâs study journey from recruitment to admissions to facilitating payments on the studentâs behalf all from one place,â said Naresh Gulati, CEO, Ascent One. âIt was an easy decision for us to choose Convera for their strong reputation, unparalleled global reach and trust within the education industry. Converaâs global financial network, cross-border payments knowledge, and robust compliance and security measures were driving factors for us.â
âOur partnership with Ascent One means weâre able to offer an agent solution via our new embedded payments solution that is helping education institutions and education agents to process student payments safely and efficiently,â said Julie Armstrong, VP, General Manager, Global Head of Industry Solutions & Partnerships, Convera. âFor many students and their families, paying for their education tuition is one of the biggest transactions they will make in their life. We want to ensure they can do so with confidence and clarity. Through our partnership with Ascent One, weâre making it easier for students to focus on what is most important â their studies â by not only simplifying the payment process but giving them the peace of mind that their education institution will receive their payment in full and on time.â
Convera is trusted by over 1,000 education institutions around the world, including 8 of the top 10 ranked universities globally. Education institutions choose Convera for its tailored solutions, global reach of over 140 currencies, robust compliance measures, and student-centric approach. Convera helps education institutions remove the complexities of sending and receiving payments; in addition to, creating easy payment solutions for both students and education institutions alike. Whether it’s reconciling student tuition payments, paying staff overseas or issuing US student loans, Convera helps education institutions gain access to competitive foreign exchange rates, advanced reporting tools, and capture more value with every transaction.
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