50 Best Companies to Watch 2020

Acquire the best payment experience while eliminating the risk of operational challenges with Flywire vertical-specific insight


Traditional payments processors and merchant acquirers are scrambling to change their platforms' perception because the markets view companies that possess payments and technology much more favorably than companies that only process payments. More specifically, the markets assign a higher multiplier to technology companies than pure payment processing companies. Thus, payments companies that have acquired and successfully integrated ISV platforms are fetching higher valuations. The commoditization of the credit/debit transaction has turned the payments industry on its proverbial head. Software companies have been moving into the payments space over the last few years in a significant way. Several vertical software companies have embedded payment functionality into their solutions, creating a better experience for end-users, businesses, and their customers and are capturing economics in the process. Other software companies have built payment solutions addressing vertical-specific pain points. In doing so, they have taken market share from generic horizontal providers and open Greenfield opportunities.

The prodigious number of payments service providers offering the same product transactional processing has resulted in backbreaking margin compression, to the point where the traditional payments processor and acquirer model has become almost non-viable. Low margins and the inability to grow through successful penetration into specialized verticals have left the payments community seeking new value-added products and services to lift margin, increase sales, enhance customer retention, and chart long term sustainable growth. This convergence of payments processing and software technology has had profound implications for both industries, especially as it relates to enterprise value creation. For the payment processors and service providers, their future depends on this convergence; they need to access and embrace the ISV community for viability. For ISVs in particular, this convergence is much less of a need. Much more of a want, at least it should be with a better understanding of today's market dynamics and how ISVs stand to benefit from this confluence of payment processing and software technology.

Flywire is a high-growth vertical payments company trusted by organizations worldwide to deliver on their most important moments. Unlike other companies, Flywire is proven to solve high-stakes vertical-specific payment and receivables problems for organizations that deliver high-value services. Traditional payments lack transparency, cannot be tracked, and are subject to fees and fluctuating exchange rates. The firm was founded in 2011 to solve the conventional payment problems such as lack of transparency, cannot be tracked, and is subject to fees and fluctuating exchange rates. Flywire was earlier known as peerTransfer. The firm's employees come from different backgrounds, including education, payments, technology, and customer support, and each brought their expertise with them. Whether in education, healthcare, travel, or technology, Flywire has insight and technology that allows organizations to optimize their customers' payment experience from invoicing to payment reconciliation. The firm provides multilingual support via phone, email, chat, and online tracking to ensure that both the client and the customer have complete control over their payments.

Furnishing solutions and services that improve the payment experience

Global Payment Network

Flywire's global payment network makes the payment process seamless for businesses, organizations, and payers worldwide. The firm has established a robust payment infrastructure based on the network of payment partners. Through these global, regional, and local banking relationships, Flywire offers convenient payment options and securely processes transactions from over 240 countries and territories in more than 150 currencies. Customers can easily lock in the exchange rate and pay in their local currency with familiar payment methods. Flywire, or its locally licensed partner, receives payment and processes foreign exchange. The funds are deposited into the customer's account, and payment is automatically reconciled.

Education Payments are now made easy

Today's students require efficient systems that keep up with constantly changing needs. With Flywire Education Payments, students benefit from a secure, streamlined payment process that is not only easy to navigate but also offers local, convenient payment options that save time and money. Its transparent payment process provides real-time tracking and status updates every step of the way, so students know exactly when payments are delivered. Education institutions often don't have the resources to research and offer country-specific payment methods. This is why the company's global banking experts develop relationships around the world to provide its customers in 240 countries and territories and protect students from inflated exchange rates by securing wholesale rates and disclosing costs upfront.

Making Healthcare payments more affordable

Understanding a patient's capacity to pay and the preferred method of engagement allows you to personalize their payment experience. Its intelligent workflows guide patients down a path to affordability. Flywire surveys every patient after they use its platform. With over one million patients surveyed, the firm knows all that patients want is simplified billing, affordable options, and empowering tools. The firm also infuses an in-depth knowledge of analytics into the heart of everything they do, guiding patients to the financial path that is right for them while providing their clients' staff with real-time insights to chart the best future for their organization.

Travel payments made simpler.

As the travel industry digitizes and evolves, so does the complexity of running your business. Flywire provides your customers with a secure and streamlined way to pay, so you can focus on what you do best - building unforgettable experiences. Flywire handles the complicated part of your payment process, offering your guests the familiar, local payment methods, and intuitive and secure payment experience. Its global payments network allows payments to be collected in over 150 currencies via a wide variety of methods while offering a custom platform to manage and reconcile all payments. Flywire offers your members a safe and intuitive way to pay, with cost-savings for both parties.

The ardent visionary behind the triumph of Flywire

Mike Massaro serves as the Chief Executive Officer of Flywire. He has grown the business from a concept into the global and growing company it is today. Mr. Mike has overseen Flywire's expansion in North America, Europe, and the Asia-Pacific regions while aligning Flywire's international team with its strategic direction and increasing Flywire's visibility globally. Mike began his career as part of the technical risk services practice at PWC, LLP. His background spans global payments, mobile software and hardware, and e-billing at high growth technology companies, including Carrier IQ and edocs, Inc. He earned his Bachelor of Science degree in Management Information Systems from Babson College. Mike is also a 2019 recipient of the Ernst & Young Entrepreneur of the Year Award in Financial Services, which recognizes unstoppable entrepreneurs who redefine the way we live, work, and play.

"From Boston and London to Shanghai and Singapore, we are a team of doers on a mission to improve everyone's payment experience."