BOSTON, MA--(Marketwire - Nov 12, 2012) - peerTransfer, the leading provider of innovative global payment solutions for the education industry, has expanded its services into the Australian market. Australia represents the third largest market for international students studying abroad, a segment that pays an estimated $4 billion dollars per year in tuition and fees, according to a study by John Phillimore and Paul Koshy from the John Curtin Institute of Public Policy at Curtin University. peerTransfer has partnered with such notable schools as Australian Catholic University, the University of Southern Queensland, and the University of the Sunshine Coast. In addition to entering the Australian market, peerTransfer has partnered with UniLink, the leading e-commerce and cashiering solutions provider in the Australian higher education market. This partnership ensures that universities have the option of a fully integrated platform to manage international payments as part of their existing payment systems.
"UniLink is pleased to partner with peerTransfer to provide an international solution to enhance payment channels and reduce reconciliation issues for our customer base. A number of universities have already implemented the solution and are extremely satisfied with the results. UniLink looks forward to a long and fruitful partnership with peerTransfer," commented David Heffernan, director of UniLink Data Systems.
Speaking of the international expansion, Iker Marcaide, CEO of peerTransfer remarked, "Australia was a very natural progression for us in terms of expansion due to the number of international students, as well as the high caliber of the education system. peerTransfer has received great enthusiasm from the industry, which is evident in the fact that, in only two months after entering the market, we have secured over 5 percent market share. We foresee this number growing consistently over the coming months."
"Australian Catholic University is ecstatic about the peerTransfer solution. Right from the beginning everything happened smoothly -- clear presentation, quick and easy set-up, good communication, instant enquiry for students and staff, and excellent reporting. At the end, the University is a happy customer," commented Rajan Wijey, financial accountant for Australian Catholic University.
peerTransfer announced last week that it has become the first to provide Chinese students with the ability to make international education payments in their native renminbi, a major benefit given the high percentage of Chinese students studying in Australia. peerTransfer currently supports 48 currencies and has processed payments from over 160 countries.
peerTransfer is the leading developer of innovative global payment solutions for the education industry. The company enables thousands of international students and hundreds of schools from all over the world to save time and money when making or receiving international payments. Compared to using traditional banks, students can save on lower fees, enjoy a more convenient online experience, and receive superior customer service when dealing with the complexities of international payments. Schools benefit from peerTransfer's free solution because they remain compliant with ever-changing international regulations and save time and money by improving the processing and posting of international payments.