The Cost of Compromising on Payment Security and Compliance
The cost of compromising on payment security and compliance
Your payments partner should reduce risk, not introduce it. Strong payment security and regulatory compliance can help protect institution integrity & improve student success by preventing:
Disruption in Enrollment
Prevent service suspensions or admission delays caused by compliance violations, ensuring students can register for classes without interruption.
Reputation Impacts and Data Breaches
Protect your institution’s brand from the fallout of data leaks by maintaining strict adherence to PCI standards that safeguard sensitive student and cardholder data.
Refund to Source
With Flywire, refunds go back to the original payer’s account in the originating currency to comply with anti-money laundering regulations.
Chargeback and Fraud Risk
Mitigate the threat of fraudulent transactions and "money mule" schemes through robust safeguards and AI-driven monitoring that unauthorized providers often lack.
International Students Prioritize Security When Choosing an Institution Flywire’s research into the global education market reveals that students and families view the payment experience as a core part of their academic journey.
of Indian Students believe that a simplified and secure payment process would significantly improve their overall education experience.
For families in India paying tuition to Canada, transparency and security are the top priorities to ensure their funds are delivered safely and in compliance with local tax laws.
Institutions utilizing integrated payment software see a reduction in billing and payment inquiries by up to
as students feel more confident in a secure, university-vetted system.
Industry-Leading Payment Security and Compliance
What does industry-leading payment security and compliance look like at a publicly traded (FLYW) payments company? The baseline of money movement is making sure the transaction itself is secure. This starts with 3D Secure (3DS) protocols, which provide a critical authentication layer for online transactions to prevent fraud and reduce chargebacks. By integrating advanced 3DS2 standards, Flywire ensures that high-value education payments remain secure while maintaining strict compliance with PCI DSS v4.0. This technical foundation is supported by best-in-class application and vendor security, continuous threat monitoring, and robust incident response. Flywire further strengthens this ecosystem by combining 3DS authentication with AI-driven machine learning and expert analyst monitoring to mitigate risk in real time. Beyond immediate transaction security, international payments providers also have a responsibility to guard against the global financial system being used to facilitate harm. By meeting rigorous Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations, Flywire ensures that every authenticated payment is not only secure and compliant but also ethically sound.
You have the power to minimize risk for your students and institution.
Your payments partner should reduce risk, not introduce it. Do they check all these boxes?
How Flywire Protects Institutions
First-Class Security & Standards Compliance
✓ Robust global Anti-Money-Laundering (AML), Counter-Terrorist Financing (CTF) and sanctions compliance programs validated by third-party audits
✓ SOC1 and SOC2 Reports for Integrated Solution for the last three years
✓ CSA STAR Registered for Cloud Security Level 1 2023
✓ ADA Compliance Certification provided by reputable third party for the last three years
✓ PCI DSS Level 1 Certification with third-party attestations for the last three years
✓ PCI Security Standards Council Board of Advisors membership
✓ NACHA affiliate membership (and associated Compliance Program)
Robust, Global Regulatory Compliance
✓ FINTRAC registered in Canada
✓ FinCEN registered in USA
✓ Licensed as an Authorised Payments Institution by the FCA in UK
✓ Licensed as a Payments Institution by the BOL in Lithuania (or other EU equivalent)
✓ Holder of AFS license and registered with AUSTRAC in Australia
✓ Licensed as a Major Payments Institution by MAS in Singapore
Public Reporting, Financial Strength & Transparency
✓ Publicly-traded company on the Nasdaq Exchange (FLYW)
✓ Full U.S. GAAP Financial Reporting for the last three years
✓ Minimum US$250M continuous balance of corporate funds
✓ Demonstrated segregation of corporate and client funds (e.g., FCA requirement)
Unparalleled Payment Experience
✓ The most robust global payment network with convenient, local payment options in 140+ currencies across 240+ countries and territories and direct contracts with American Express, Visa, PayPal/Venmo, and more
✓ Direct netbanking connections with ICICI, HDFC Bank, SBI (exclusive to Flywire) and Cashfree offer an entirely online bank transfer option to account holders at more than 50 banks across India
✓ Easy-to-use payer interface available in 13 key languages
✓ Around-the-clock multilingual support in 30 languages from experts available via phone, email, live chat, and WeChat
✓ Best price guarantee for local bank transfers
✓ More than 5,000 clients around the world
Streamlined, Digital Payment Experiences for Key Markets
China
✓ Digitized SAFE document collection and embedded document validation that is compliant by Chinese foreign exchange (FX) regulators
India
✓ Streamlined payment verification and Liberalised Remittance Scheme (LRS) requirements and digitized Tax Collected at Source (TCS)
The right payment partner turns complex security and compliance into a competitive edge that can drive customer loyalty.
HEAR FROM YOUR PEERS
Flywire's AML Compliance, Security, Fraud Detection have reduced our credit card fraud (chargebacks) to virtually zero. This has resulted in a tremendous savings of time and improved the student experience.
Fanshawe College
Flywire provides our students with a secure and convenient channel for making international payments with minimal hassle. Their team consistently supports both our students and agency partners, offering prompt and transparent assistance to all.
Cambrian College
In postsecondary education this means making it easy for students to pay or get refunds securely and efficiently.
Algonquin College
How Flywire Helps Prevent Payment Scams Flywire is committed to protecting education institutions and their students and families with the highest level of security and privacy standards. We undergo audits annually and are compliant with all security and privacy regulations. For more information, visit our main security page. Flywire also informs students and families about ways to protect themselves against current fraud and security risks. As new scams emerge, our experts provide tips and advice that keep students and their families safe. Check out our Student Payment Safety, Verified Agents & Secure Payments and Toolkit & Resources tabs to learn more.
