FOR: PEERTRANSFER CORPORATION
30 New Schools Sign With peerTransfer in Q3 Helping Their International Students Save Thousands of DollarsNOV 4, 2011 - 12:00 ET
BOSTON, MA--(Marketwire - November 4, 2011) - peerTransfer, the leading provider of global payment solutions for international students and their schools, announced today that the company signed up more than 30 new schools during the third quarter of 2011.
Schools, such as, Oberlin College, Georgia State University, Western Kentucky University, Mount Holyoke College, University of San Diego and Stevens Institute of Technology join peerTransfer's now 50 plus partner schools.
The company's free solution saves schools time and money by reducing fraud risk and streamlining the reconciliation process associated with international wires. Each client school receives a custom payment solution that gives their international students the ability to pay tuition from any country, typically in the student's home currency. This represents significant savings for the students and families compared to traditional banking options. "International students in the US lose more than $1 billion per year from unfavorable currency exchange rates and banking fees. We want to help them while helping schools achieve efficiencies," states Iker Marcaide, Chief Executive Officer of peerTransfer.
"With peerTransfer we no longer have to give out our banking information. We simply refer our students to a custom link on our website. peerTransfer then processes the wires and provides us with a report showing the student and the amount. This is at no cost to us and our students save money on the exchange rates, making it a win-win situation," said Marlene Kanipe, from The College of Wooster.
The company continues to make good on its high touch, customer focused approach as it grows and expands its services. peerTransfer's foundation was started with feedback from The Boston Consortium for Higher Education, a group of 15 schools working together to find the best cost saving and quality improvement ideas. "peerTransfer is committed to serve both our schools and students in the best possible way. Customer interactions continue to influence our international payment solution and we are excited about what's to come," says Marcaide.
peerTransfer is the leader in the development of innovative global payment solutions for the education industry. peerTransfer's solutions have been proven to save schools and their international students a significant amount of time and money when receiving or making international payments. The company offers international students the ability to pay in their home currency and then bundles the payments together to secure wholesale foreign currency exchange rates, which equates to a significant amount of savings for the students. In addition, the free solution helps schools more efficiently manage and reconcile payments via international wires. Recently, the company closed a $7.5M investment round by leading venture capitalists. The notable investor group have backed other well know companies such as Facebook, Twitter and eBay and have in aggregate more than $8bn in assets under management. The company is headquartered in Boston, Mass., with additional offices in Europe.
For more information, visit www.peertransfer.com
Director of Marketing