Flywire Corporation has broadened its partnership with TenPay Global, Tencent’s cross‑border payment platform, to allow Chinese students and families to pay tuition in South Korea and Malaysia using Weixin Pay (WeChat Pay). The move gives students the ability to initiate and complete payments in Renminbi through the WeChat app, while universities receive the full amount in local currency.
The new direct connection removes traditional cross‑border payment barriers and shortens processing times. For institutions, the integration guarantees that the full tuition amount is received in the local currency, improving cash flow and operational efficiency.
The expansion targets two of Asia’s fastest‑growing academic destinations for Chinese students. In 2024, Chinese enrollment reached 47,000 in Malaysia—a five‑fold increase since 2019—and 73,500 in South Korea. By enabling a popular local payment method, Flywire positions itself to capture a larger share of the growing transaction volume in these corridors.
Flywire’s recent financial results underscore the strategic fit of the partnership. In Q3 2025, the company reported revenue of $200.1 million, up 27.6% year‑over‑year, and net income of $29.6 million, while adjusted EBITDA rose to $57.1 million, a margin of 29.4%. The growth was driven by strong demand in core segments, offsetting headwinds in legacy products. The travel vertical, which grew organically more than 50% in 2024, now accounts for 13% of total revenue. CEO Mike Massaro noted that the company is “continuing to grow the business while navigating a complex macro environment with significant headwinds,” highlighting the balance between expansion and cost discipline.
The partnership deepens Flywire’s relationship with Tencent, following a July 2023 collaboration that introduced Weixin Pay for Chinese students studying abroad. By focusing on high‑growth education corridors, Flywire aims to accelerate transaction volume and revenue while maintaining operational leverage. The move also aligns with broader trends of accelerating student mobility within Asia, driven by proximity, cultural affinity, and affordability.
Flywire’s strategy to digitize high‑value payments across high‑growth corridors is reinforced by the Weixin Pay expansion. The partnership is expected to enhance Flywire’s competitive position in the international education payments market and support the company’s broader growth objectives amid a complex macro environment.
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