As a world-leading educational institution, the London School of Economics and Political Science (LSE) attracts large numbers of international students. In fact, up to 70% of its 11,000 students come from abroad, ranking it second among the universities with the highest proportion of international students in the world.
As digital natives, their students have grown up in a cashless world, expecting the highest standards of user experience when interacting with their university.
Processing tuition fees as well as student accommodation fees for thousands of students from all over the world, the university has a unique set of challenges when it comes to creating a smooth, secure and easy process for its students to pay their fees across multiple payment methods and currency borders.
The Trust Payments Solution
Our dedicated, UK–based education team brings experience and deep knowledge of the payments landscape in higher education. We know that universities do not want to administer cash and cheques or accept the risks of running multiple payment systems; they want a headache-free, secure process so they can focus on teaching.
Trust Payments is the preferred partner for card processing, and LSE uses our payment gateway and acquiring service for a full end-to-end solution. We ensure that the relationship between LSE and its students gets off to a flying start with a streamlined and transparent card payment process covering:
- Acceptance of payments from students in more than 20 currencies.
- Online card payment in 8 languages.
- A choice of payment types.
- Settlement to LSE in 14 currencies.
In August 2019 a single payment platform was introduced, and students began to receive automated invoices to pay online. The new portal and payment options offered by Trust Payments reduce complexity, improve security and has seen an exponential upwards curve in card payments.
LSE is in the position where it now no longer needs to accept payments via bank transfer or cash, and feedback from students about ease of payment has never been better.
“The School is committed to providing an efficient, compliant and cost-effective payment collection and payment processing service, which reflects our commitment to putting applicants, students and customers first. The School is required to ensure that all payments are processed safely and securely. As an approved payment service provider Trust Payments have measures in place to safeguard our students and customers against risks of fraud, money laundering and personal data breaches, offering a seamless payment solution which is also fully transparent on cost for the payers.”
– Glenn Ruane, Head of Fees, Income and Credit Control, London School of Economics.
If you are a higher educational institution and would like to see how we can transform your payments experience, contact [email protected]