It may be money that makes the world go ’round but that only works if money goes ’round the world. Cross-border payment and receivables solution, Flywire (formerly peerTransfer) is seeking to facilitate that movement. Now, the Boston, Massachusetts-based company announced it has teamed up with PayPal to offer clients a new avenue for sending and receiving international payments.
The PayPal payment method is available to Flywire clients in the European Union, the U.K., the U.S., and Canada. Flywire anticipates the new development will help clients “streamline the management and tracking of international receivables.” Ryan Frere, Vice President of Global Payments for Flywire, said the new payment option “furthers our objective of taking the friction out of international payments and making them every bit as familiar, easy and convenient as domestic payments.”
Flywire was founded in 2009 when it was originally known as peerTransfer. In 2015, the company added offices in Spain and expanded its focus beyond international student tuition payments to include cross-border payment offerings for heath care and businesses– a move the company announced in March of this year. Flywire presented its original tuition payment platform at FinovateSpring 2011. The company has raised a total of $43.2 million. Mike Massaro is CEO.