Flywire is like Beyoncé in Destiny's Child: the standout star from a group of fantastic performers in their own right. 💃🏼 So while Part 1 and 2 of this series will cover most of the material you need to know about using payment gateways to handle application fees and you should absolutely not skip them (!), there are aspects to Flywire which merit a closer look. Pick up your monocle and let's get to it! 🧐
Flywire Overview
Flywire is a global payment platform designed to simplify and streamline the process of making international payments for education, healthcare, travel, and other industries. Founded in 2011, Flywire focuses on providing a seamless experience for both payers and institutions by offering transparent pricing, real-time tracking, and dedicated support.
How to set up Gateway Stripe
Go to General Settings in top right corner;
Go to the Integrations Tab;
Scroll until you find "Flywire";
Click on the "Add a new Gateway"
Fill in the modal:
Set up fields
Name: Name of Flywire Gateway (if using multiple Flywire Gateways, it will be the main identifier);
Recipient: Available in your school's Flywire account;
Shared secret:
How do applicants experience Flywire?
Flywire requires that candidates fill in their billing information, lest it differ from the data inputted elsewhere in the application form – for instance, due to the payment being made in someone else's name, like a parent or a spouse. Because of that, there's no way to map the fields in the payment form to others in the application form.
Furthermore, by capturing the billing information at the time of payment, payments are properly credited in a timely manner and the applicant is notified when his or her payment is received through a confirmation email.
After the payment form is completed and candidates click PAY WITH FLYWIRE, Flywire instantly validates if all fields are filled out and contain valid information and proceeds to display the following modal:
In it, applicants are requested to choose a payment method, whereby they're accordingly redirected to the corresponding steps. When candidates pay the fee and exit the modal, they return to Full Fabric where payment status is automatically updated.
Both the Flywire form and modal are always translated into whatever language FULL FABRIC's platform is in, be it English, French, German, or another one.
How can I manage bank transfers with Flywire?
If you've been reading so far, you'll probably have noticed a few observations singling out bank transfers. That's because the process with them is slightly more complex. By their very nature, bank transfers necessarily involve a manual component, namely the action of manually transferring funds from one bank account to another through an IBAN number. And while the actual timing will vary by bank and by country, it can take up to several business days for the money to arrive. As a result, the operation is considered to be on hold by the system until it gets confirmation from Flywire that the money's been deposited into the school's account. Meanwhile, the following message is displayed to candidates:
Once confirmation is received via the API, the fee is automatically marked as Paid in Full Fabric and the status is likewise updated.
Another thing is that, when candidates elect bank transfer as their payment method, they have two options next: immediately carrying out the operation and clicking I HAVE COMPLETED THE TRANSFER, or, alternatively, deciding I WANT TO PAY LATER: