Innovative Partnership Aims to Meet Students' Needs and Drive Efficiency for Institutions
SAN FRANCISCO, Jan. 29, 2025 /PRNewswire-PRWeb/ -- Meadow, a leading startup transforming the student financial experience, has partnered with Finix, a cutting-edge payments infrastructure platform, to tackle a critical challenge in higher education: outdated payment systems that fail to meet the expectations of today's students and include hours of unnecessary manual work for administrators. Meadow is delivering a streamlined payment solution that has already helped institutions achieve impressive results, including a 47% increase in on-time payments year-over-year.
Colleges and universities across the country are struggling with dual crises of decreasing enrollment and increasing A/R. In a recent survey of 150 education leaders 52% of institutions report that their A/R balance has been increasing and 33% report an outstanding A/R balance of more than $5M. But the offices tasked with collecting tuition revenue are often under-staffed and lack the tooling and technology needed to increase on-time payments. Student account offices find that the poor student experience and friction created by their current payment platforms leads many students to not pay at all.
Meadow redefines how a university shapes the student financial experience through its personalized and automated communications, self-serve payments plan and mobile-first, student-friendly design. From inception the goal was to make it easy for students to view their bills and make a payment in as few steps as possible. The partnership with Finix was key to making this happen.
"Working with Finix has allowed us to provide a flexible, secure payment experience that makes it easy for students to pay in just a few clicks," said Alfredo Brillembourg, CEO and co-founder of Meadow. "Our partnership has enabled us to drive meaningful innovation in an industry that's long overdue for transformation. Finix's platform allows us to focus on delivering exceptional payment experiences for students and the institutions that serve them, without compromising on speed or efficiency."
With payment solutions powered by Finix, Meadow Pay enables schools to offer students a transparent, intuitive payment platform that simplifies transactions and encourages timely payments. Meadow's success shows the impact of modernizing the student financial experience: schools utilizing Meadow Pay are already seeing up to 47% more on-time payments.
"Our belief has always been that payments do not need to be complicated," said Richie Serna, CEO and co-founder. "Payments in colleges and universities have been harder than they have to be and we are excited to partner with Meadow to change that."
The partnership is just getting started. Meadow is set to have a TPV run-rate of $200M, processing payments for thousands of students across dozens of campuses across the country and increasing on-time payments, all powered by Finix. Finix provides the technology and infrastructure that enables Meadow to seamlessly manage transactions at scale, delivering reliable, efficient, and frictionless payment solutions. Soon all students will be able to pay their tuition with as much ease as they pay for their pizza.
About Meadow:
Founded in 2021 by recent graduates from Columbia University as well as second-time founders who have worked at AmEx, Klarna, Outschool and Amazon, Meadow provides student-friendly tools that use advanced personalization and modern consumer design to improve the financial experience for everyone–from institutions to the students they serve. MeadowPrice is the only net price calculator that is designed to be both accurate and student-friendly. Meadow Pay is the only solution that integrates student-friendly design with advanced personalization for a superior student billing experience. Learn more at www.meadowfi.com
About Finix:
Finix is a full-stack payment processor enabling businesses to accept and send payments online and in-store. From startups to multinationals and publicly traded companies, Finix offers everything needed to deliver a world-class payments experience across the US and Canada. Leading software platforms, marketplaces, retail, and e-commerce businesses use Finix's universal payments API and dashboard to accept payments, automate workflows, enhance customer experiences, and quickly grow revenue. To learn more, visit www.finix.com or contact our sales team.
Media Contact
Launch Squad, Finix, 1 847-505-9013, [email protected], www.finix.com
Alexandra Lindsay, Meadow, [email protected], www.meadowfi.com
SOURCE Finix
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