SBI Ties Up with Flywire to Foster Payments of Indian Students Abroad

Current Context: The State Bank of India (SBI) announced its partnership with Flywire Corporation on February 6, 2024.

• This collaboration is aimed at revolutionizing the landscape of international education payments for Indian students.
• Under this partnership, Flywire’s technology will be integrated directly into the bank’s platform.
• This integration will offer Indian students an advanced digital checkout experience for their international educational payments.
• The services will range from application to tuition fees, and students can complete transactions effortlessly in Indian rupees within three simple steps on SBI’s net banking platform.
• This is expected to provide a seamless and fully digital payment experience, which is an improvement over the existing complex process.

Question:

Q.1 What is the main aim of the partnership between SBI and Flywire Corporation?
a. To provide loans to students
b. To revolutionize the landscape of international education payments for Indian students
c. To offer credit cards to students
d. To provide scholarships to students