Nigerian payment company Flutterwave has launched Tuition, a new payment product to allow African students pay fees to schools within Africa and overseas using local currencies.
Flutterwave says it designed the product to solve the perennial challenge associated with paying school fees for students studying abroad and at home.
The new service enables students, parents, guardians and sponsors to pay school fees to over 40 institutions in the UK, with plans to add more institutions in more countries in Africa and beyond.
The product is coming as the Nigerian government has allowed the naira to trade more freely making easier to source dollars at a fair rate.
“With Tuition, we are providing a safer, reliable, and affordable means for African students to pursue their dreams and seamlessly get financial support from parents, guardians, and sponsors,” said CEO Olugbenga Agboola.
According to the company, the schools covered include high schools, universities, colleges and some global edutech platforms.
– Here are key things to note about the product for those planning to use it:
- What is Tuition all about?
It is a payments platform that allows African students studying overseas to pay their school fees using local or foreign currencies.
- Which countries can a user pay from?
Flutterwave says it currently supports payments only from Nigeria, Cameroon, Ghana, Ivory Coast, Kenya, and South Africa.
- Which institutions can a user pay to?
The company says for now it supports payments only to schools in the UK for now. It plans to expand to United States and Canada, and more.
- What payment methods are available?
Payments can be made using naira debit card, credit card, Google Pay. Nigerians can also use bank transfers.
- What exchange rate is used for payments?
According to Flutterwave, the tool uses the current market rates to determine the payment rate. It advises users to check the daily rates whenever they attempt to make a payment.
- What are the fees for using Tuition?
Flutterwave charges a flat fee of 20 British Pounds for every payment made through Tuition.
- How to confirm the target school has received payment?
It says if the transfer status is ‘Successful’, the payment has been delivered to target institution. A user can then click on the ‘Download receipt’ button to download payment receipt and share with the institution for confirmation.
Correction: Flutterwave charges £20 for Tuition payments. A previous headline for this story misstated the amount.
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