Case Study: Sungkyunkwan University streamlines cross-border tuition payments with Flywire

Prestigious Korean higher education institution, Sungkyunkwan University, chooses Flywire to solve cross-border payments and future-proof payments

Sungkyunkwan University (SKKU), a prestigious Korean institution, faced significant challenges with its international tuition payments. Students had limited, costly payment options that often involved double currency conversion fees and in-person bank visits. This led to payment delays and created major reconciliation difficulties for the university's finance team, as payments frequently arrived without proper identification or with incorrect amounts due to hidden fees.

The university partnered with Flywire to implement its innovative cross-border payment solution. Flywire provided students with the ability to pay in over 140 currencies through numerous local options, all while offering real-time payment tracking. For SKKU, this resulted in a major increase in operational efficiency and student satisfaction, eliminating under/over payments and the need for manual reconciliation. Flywire's successful integration led SKKU to quickly expand its use to accept payments for accommodation and language programs.