NMB Bank Partners with Flywire to Digitize Foreign Education Payments from Nepal

For payers in Nepal looking to pay education payments overseas, the process was initially time-consuming and imposed security risks. Likewise, on the receiving end, tuition bills could not be efficiently tracked, and accepting payments in different currencies made it difficult to reconcile while requiring the institutions to deal with paperwork. Together, NMB Bank and Flywire are powering a new digital payment solution for overseas education expenses, to simplify complex security and compliance.

The partnership between NMB Bank and Flywire digitizes and ensures a secure payment process in compliance with local regulations. Students and families can make education payments online even if they don’t have an NMB Bank account. Payments to NMB Bank can be made digitally without having to deposit the funds in cash, from other banks.  Furthermore, students can directly pay their education-related fees and payments in their own currency, eliminating the costs incurred for currency exchange.

“We aim to provide a streamlined payment solution for our customers with an easy payment procedure while encouraging the use of digital platforms. We firmly believe that this partnership will add great value to the service for our customers as we provide a one-stop solution for overseas education payment,” said Sunil KC, CEO of NMB Bank on the bank’s partnership with Flywire.