PETNET Inc. has expanded its services to further support the growing number of Filipino students studying abroad, in partnership with Convera, a global leader in B2B payments. Through their service brand, PETNET Forex Solutions, the company is proud to introduce the Convera GlobalPay for Students platform. This pioneering payment solution allows Filipino students and their families to pay tuition fees to over 900 international universities directly in Philippine peso (PHP), providing convenience, security, and cost-efficiency.
A Seamless Payment Experience
The Convera GlobalPay for Students platform offers a streamlined, hassle-free way to pay tuition fees from the Philippines to some of the world’s top educational institutions. Students, parents, and sponsors can now select PETNET as their payment provider, using online banking or interbank transfers to complete transactions. This service eliminates the need for intermediaries, reducing conversion fees and ensuring that tuition is paid in the local currency of the Philippines.
According to PETNET President and CEO Ian Ocampo, the platform is the first of its kind in the Philippines, designed to simplify the payment process. “By directly remitting the payment to their chosen place of study, our service eliminates friction in the process caused by intermediaries that deduct conversion fees from your payments by giving you the opportunity to pay in PHP,” he said.
Supporting Filipino Students Globally
With an estimated 22,709 Filipino students currently studying abroad, particularly in countries such as Canada and Australia (according to UNESCO), the demand for streamlined tuition payment services is growing. Ocampo anticipates that this number will increase by 13% over the next five years, and PETNET is ready to support this growth.
“We want to make sure that our institution supports this growth, making Filipinos globally competitive through education,” Ocampo added. “With strong support both from private and government, PETNET is proud to enable these young potentials who seek additional educational foundations outside the country.”
PETNET and Convera: A Strategic Partnership
PETNET is the first non-bank financial institution in the Philippines to partner with Convera, leveraging the company’s extensive global network to deliver the GlobalPay for Students service. Convera’s network spans over 140 currencies and more than 200 countries and territories, making it a trusted payments provider for students across the globe.
Nicola Bennett, Global Director of Product at Convera, expressed their excitement about partnering with PETNET to introduce a PHP online banking option for overseas tuition payments. She noted, “The Philippines is becoming one of the top source countries for students studying abroad, and we recognise that institutions need to cater to the growing demand by providing a seamless payment experience for their students so they can concentrate on their studies. We look forward to this significant and strategic collaboration to serve payers from the Philippines and evolve our offering together.”
Elevating Services for the Community
This partnership between PETNET and Convera with the GlobalPay for Students platform is a significant step forward in supporting the educational aspirations of Filipino students abroad. By simplifying tuition payments and offering a secure, cost-effective solution, PETNET Forex Solutions continues to demonstrate its commitment to enhancing the financial services available to the Filipino community. PETNET remains at the forefront of financial development as they provide essential tools and services for Filipino families and businesses alike. This endeavor not only empowers students to be diligent in their studies but also strengthens the global reach of PETNET’s innovative operations.
Students and families interested in utilizing the Convera GlobalPay for Students platform can access the service by visiting students.convera.com.
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