PINOYS abroad may pay tuition in PHP

The Aboitiz group’s Petnet Inc. and US-based business-to-business payment company Convera have launched a new payment service in the Philippines, allowing Filipinos to pay for tuition in overseas universities in Philippine pesos.Under one of the remittance firm’s service brands, Petnet Forex Solutions, the two partners are offering a new suite of services through the Convera GlobalPay for Students platform.The platform offers a simple and hassle-free way to send tuition payments from the Philippines to more than 900 education institutions, including eight of the top 10 ranked universities globally, according to Petnet.

Users can choose Petnet as their preferred payment option and complete the transaction through online banking or interbank transfer.

‘Eliminates friction’

“By directly remitting the payment to their chosen place of study, our service eliminates friction in the process caused by intermediaries that deduct conversion fees from your payments by giving you the opportunity to pay in PHP,” said Ian Ocampo, Petnet president and chief executive.Ocampo said in a statement that the platform powered by Convera is the first service in the Philippines that allows students, parents, and sponsors to pay partner universities and education providers worldwide in the Philippines’ local currency.Petnet estimates that the new service will benefit close to 23,000 Filipino students studying abroad, citing data from the United Nations Educational, Scientific and Cultural Organization or Unesco. INQ