Cambridge Network is very excited to announce a new payment system for our students and natural parents! We have partnered with PaytoStudy to create a secure and user-friendly online payment platform. This platform helps to alleviate many of the current issues parents encounter when trying to write their tuition fees internationally.
Previous Pain Points
Previously, international payments have been cumbersome and time intensive for all involved parties. Parents must go to the bank at a time where there is a good exchange rate. There they must input information and upload documents. In addition, many parents have encountered difficulties making foreign transactions over a certain amount since many countries have international wiring maximums. This all results in the Cambridge Network team taking time to match the information with our system to confirm the payment, which ultimately causes delayed reconciliation with our schools. With our new system, that is no longer an issue. Cambridge Network’s new payment system makes it much easier and time efficient for everyone involved!
New System Benefits
Cambridge Network developed a new online student payment function to create an easier, and more secure payment system for parents and students and to reconcile with school partners faster. The system allows parents to save money on wiring fees and to secure a better exchange rate since families can pay in their local currency. Parents no longer must make international wire transfers and can pay in their local currency at the bank. The new payment system is also a better way to comply with the stricter anti-money-laundering regulations that many countries are putting in place. Since the payments are being made in the local currency and are domestic transactions, it avoids reaching international wiring maximums that many countries have in place. The process is also less time intensive for parents since our secure system pre-loads most necessary information to complete the payment. It is also a faster process as Cambridge Network can quickly confirm receipt of payments and collect all necessary information into our secure database system.
Cambridge Network’s online payment function is an easy to use web page on Cambridge’s website. Students and parents will receive a unique payment link that pre-fills all existing information regarding the payment and the student details. This is much easier and faster than having to manually input all information in order to wire payments. The link will provide clear steps on what needs to be done to complete the payment, and a confirmation email will be sent to the customer once the payment is processed. Previously, it took multiple worrying days to confirm if a payment successfully processed. With this new system parents are notified within 48 hours of their moneys’ safe delivery. Cambridge Network will quickly be able to identify the payment and move forward with the next steps for a student’s enrollment. The process is simpler and faster for everyone!
On behalf of the Cambridge Network, we invite you to see where parents will access our new online payment system on our home website: https://www.thecambridgenetwork.com/online-payment.