Nuvei Corporation has partnered with Esenda, a UK-based independent school fee management field, to collaboratively unveil an online platform for tuition fee collection and income management.
The collaboration works by fusing Nuvei‘s payment technology with Esenda’s detailed fee management system, presenting educational institutions with a solution that elevates payment efficiency while maintaining security.
Through this partnership, educational institutions can facilitate online payments for various expenses including tuition, corporate debentures, extracurricular activities, and other student-associated charges. Beyond traditional card payments, schools will perform a single integration with Nuvei and Esenda that will enable them to access every applicable global alternative payment mode, catering to students and their families irrespective of their location.
Nuvei’s technology suite incorporates supplementary features that can adapt to fine-tune payment processes, encompassing advanced risk management, streamlined reconciliation, tools ensuring customer authentication compliance, and a unified payment orchestration system that comes with comprehensive reporting and data transparency. Nuvei says these adaptable features will provide heightened operational efficacy and improved oversight.
On the other hand, Esenda’s platform streamlines fee acquisition by aligning with academic institutions’ financial infrastructures. It boasts functionalities such as instantaneous invoice monitoring, automated matching of payments, timely alerts for overdue payments, and swift report creation, making a big difference in refining the fee management process.
Nuvei Chair and CEO Philip Fayer commented on how the partnership can complement educational institutions,
“Enabling education providers to upgrade their student experience by making tuition and day-to-day payments simple and convenient is a great example of the role payments can play in building customer relationships in any sector.”
The companies said the collaborative platform has already been rolled out at a leading educational entity in Dubai, granting the establishment the capability to process global payments digitally, inclusive of card transactions from major regional issuers, for the first time.
Featured image credit: Nuvei Chair and CEO Philip Fayer
