Ifeanyi Ibe Flutterwave, the Nigerian fintech company, has launched a payment platform called ‘Tuition’ aimed at enhancing access to foreign currencies, addressing exchange rates problems and surmounting the daunting challenge of paying school fees by international students.
In a statement on Tuesday, Flutterwave said with the new platform, international students can now pay their school fees within 48 hours, using their local currencies. It will eliminate time loss the and anxiety inherent in not meeting the tuition payment deadlines.
Nigeria has been badly hit by a worsening forex scarcity since 2021. Overseas students have had a huge share of the impact as parents and guardians groan in meeting up tuition payments. Traders Pay More For Forex As Dollar Rate Rises In Official, Black Markets.
Tuition is a cross-border payment platform that allows students or their guardians to pay their school fees directly to their university’s account within 48 hours, using their local currency or any currency they choose. It is a payment platform for African students studying anywhere within the continent or abroad.
The statement said, “We are excited to launch Tuition to support the dreams of African students across all levels who want to study anywhere without worrying about how to meet the deadline for their school fees payment. Flutterwave Bags CBN’s Highest Payments Processing License
“With Tuition, we are providing a safer, reliable, and affordable means for African students to pursue their dreams and seamlessly get financial support from parents, guardians, and sponsors.”
The platform supports payments from the United Kingdom, Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal, Slovakia, Slovenia, Luxembourg, Latvia, Lithuania, Malta, and Spain.
In Africa, the countries include Cameroon, Ghana, Ivory Coast, Kenya, Nigeria, South Africa and the United States of America.
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