Forex scarcity: Flutterwave unveils new payment platform for international students

A Nigerian fintech company, Flutterwave, has launched a payment platform called ‘Tuition’ which it said will ease access to foreign currencies and also help address the exchange rates problem.

Tuition, the firm said will also help international students to surmount the daunting challenge of paying their school fees.

With the new platform, international students can now pay their school fees within 48 hrs using their local currencies, eliminating the time spent and anxiety associated with not meeting the tuition payment deadlines, Flutterwave said in a statement on Tuesday.

Saturday PUNCH reports in 2021 that the lingering foreign exchange scarcity in the country is taking a heavy toll on foreign tuition payment, as many parents and guardians groan over the difficulty in paying their children’s school fees.

The report added that it was tough to access forex from banks in good time to pay their children’s school fees abroad, with several dollar requests piling up in banks for weeks.


Tuition is a cross-border payment platform that allows students or their guardians to pay their school fees directly to their university’s account within 48hrs, using their local currency or any currency they choose. It is a payment platform for African students studying anywhere within the continent or abroad.

The statement reads in part, “We are excited to launch Tuition to support the dreams of African students across all levels who want to study anywhere without worrying about how to meet the deadline for their school fees payment.

“With Tuition, we are providing a safer, reliable, and affordable means for African students to pursue their dreams and seamlessly get financial support from parents, guardians, and sponsors.”

Presently, the platform supports payments from the following countries: United Kingdom, Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Portugal, Slovakia, Slovenia, Luxembourg, Latvia, Lithuania, Malta, Spain. Africa: Cameroon, Ghana, Ivory Coast, Kenya, Nigeria, and South Africa, the United States of America.

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