Novatti (ASX:NOV) is pleased to announce a partnership with Xetta, Nelnet International’s payment and reconciliation platform. The partnership enables educational organisations integrated with the Xetta platform to seamlessly accept payments from the Asian Wallet – Alipay.
By leveraging Novatti’s expertise in providing payment solutions for educational organisations and Xetta’s extensive experience in education finance and payment systems, this partnership provides exciting opportunities for educational organisations.
Asian wallets are key to International student payments
International students are extremely important to the culture and revenue of educational organisations in Australia; according to the Sydney Morning Herald, in 2022 international students at Sydney University accounted for 48 per cent of the institution’s total revenue so, providing a best-in-class way for international students to pay and for educational organisations to accept payments seamlessly is of vital importance.
“As educational institutions strive to improve their student payment experience and minimise payment issues,” explains Jason Turnbull, GM of Payments at Novatti, “providing access to Asian wallets needs to be part of the solution.”
Talking about the partnership he stated “We’re incredibly excited about the integration with Xetta. This partnership helps us to further support education providers, by enabling a better payment experience for their international student communities and better outcomes for their organisations too.“
International students and their families have unique preferences when it comes to payments. Providing them with a payment method they trust that they’re comfortable with, in a language they understand, can significantly enhance their overall experience. And, it’s a win-win situation for educational organisations too, as it fosters greater satisfaction and delivers better financial outcomes for them as well. We’re looking forward to making a real difference together with Xetta.”
Simplifying the way educational institutions manage their finances
Xetta is a comprehensive global payment and reconciliation platform that simplifies the way educational institutions manage their financial transactions. This is particularly important in the education sector, where institutions handle numerous transactions daily, from tuition fees to funding and donations.
Robert Radley, Executive General Manager, Sales – Australia, New Zealand, and APAC at Nelnet International, commented on the significance of this partnership for modern education providers looking to provide best in class solutions for international students. He emphasised, “Our collaboration with Novatti now makes it easy for universities to accept payments through Alipay, catering to the needs of Chinese students and greatly improving their overall educational payment experience.”
“The collaboration between Xetta and Novatti presents substantial operational benefits for higher education institutions. By reducing instances of failed payments, mitigating chargeback risks, and simplifying refund processes, this integration streamlines reconciliation efforts, contributing to enhanced operational efficiency and financial management as well.”
The education sector is characterised by diverse payment needs and complex reconciliation challenges. Traditional payment systems often struggle to keep up with the volume and variety of transactions, leading to inefficiencies and increased operational costs, as well as a more clunky experience for students. Xetta addresses these challenges head-on by offering a unified platform that supports multiple payment methods, including credit and debit cards, bank transfers, and digital wallets. This versatility ensures that institutions can cater to the preferences of a wide student demographic, enhancing the convenience and accessibility of payment options.
The platform’s customer portal allows for easy tracking of payments, viewing of transaction histories, and access to payment support.
For companies within the education sector, adopting Xetta offers several key advantages. It enables more efficient financial operations, reducing costs associated with manual payment processing and reconciliation. It also supports the institution’s growth by enabling the scalability of payment processes to accommodate increasing numbers of students and transactions. And now offers the Alipay advantage too.
Looking for a way to improve your student payment experience or reduce costs and time associated with reconciliation issues? Contact our team of education payment experts today.
