Payment Process Transformation in Higher Education

This white paper presents findings from research conducted on the payment experiences of international students in UK universities. The research, carried out by Flywire in collaboration with IFF Research and five UK institutions, aims to understand the attitudes and behaviors of international students regarding tuition fee payments. The study highlights four key challenges faced by finance teams in 2023, including the increasing diversity of international students, varied payment preferences, and the expectation for a digitized payment journey. The paper outlines the disconnect between students' actual and preferred payment methods, revealing that many students default to bank transfers due to a lack of clarity on payment options. Additionally, it discusses the implications of poor customer service on payment experiences and emphasizes the need for universities to enhance communication and streamline payment processes to better support international students. The findings are based on an online survey and focus groups conducted with 3,138 international students between September and November 2022.