Interview with Arif Harji, Chief Marketing Strategist for MTFX Group
MTFX Group, a foreign exchange and global payments company, helps transfer funds in 100+ currencies to more than 140 countries around the world. Recently, FACTS partnered with MTFX Group’s education industry-specific solution, PayMyTuition, to offer an innovative alternative to cross-border tuition payments for their schools and international families. This means that the ability for international families to transfer funds via PayMyTuition is a click away in FACTS’ payment portal.
We talked with Arif Harji, MTFX Group’s chief marketing strategist, about what makes PayMyTuition different, why MTFX Group chose FACTS as a partner, and what challenges international families face in making tuition payments.
You’re excited to be one of several international payment options we provide. Why?
We don’t believe in exclusivity. We’re not in the business of replacing anyone. We believe in offering families choice.
We want the opportunity to be compared to other payment providers out there, because that drives consumer value in the market. It makes us always strive to provide a more seamless, easy, and efficient family experience.
What are the unique challenges international families face with payments?
The foreign exchange rate, for one. International families are already paying a premium for education since they’re not eligible for federal loans. They have to pay a 4-6% exchange rate charge on top of high tuition costs and that adds up fast. We try to offer the most competitive rates in the market to provide value to the families.
Second, the time and lack of trackability when transferring funds internationally. For most international students, it takes anywhere from 4-10 days for wired funds to be deposited into the school account and there is no way for the family to see when the payment has been posted. We utilize our advanced technologies and global banking infrastructure that has been built over a 24+ year tenure to process international payments within 6-24 hours. Plus, our real-time tracking technology allows families to view transfer statuses 24/7 via online dashboards and SMS push notifications.
Finally, access to 24/7 customer service can also be a challenge for families. It’s extremely difficult to create a customer support structure for payers with vastly different languages and country backgrounds, but that’s what we’ve built.
Technology is great, but we hang our hat on our customer support, which helps payers from virtually every country in the world 24/7.
What’s your customer success philosophy?
We’re all about leading with transparency in price, service, and technology. We work tirelessly to support our customers when any challenges arise to ensure they receive the best value and experience with sending funds across border.
What makes PayMyTuition different?
We are a high-tech, high-touch company. That means we’re all about creating customer success through technology. We want to make sure the experience is nothing short of, “Wow — that was easy, efficient, and a great value!”
How can FACTS customers learn more about PayMyTuition?
Schools can learn more by visiting www.paymytuition.com or contacting a FACTS account manager.