EXCLUSIVE—International payments provider Flywire will acquire OnPlan Holdings, the parent company for OnPlanU and OnPlan Health, for faster and more flexible payment solutions, the companies announced today.

“This coming together, OnPlan’s expertise is really in payment processing, so [they] can really sculpt what our clients are looking for,” Sharon Butler, EVP of education and healthcare for Flywire, told Bank Innovation. “We wanted to move into a space where we handled all payments for our clients, and the relationship [with OnPlan] was very strong.”

The companies are not disclosing the details of the acquisition, said Butler, but the deal will allow the company to include services like invoicing and automated payment plans on its platform.

As a provider of international payments, Flywire currently services over 1,400 businesses and companies across the globe, Butler said.

The provider’s main focus has been on payments in the healthcare industry as well as education — payments by international students to their university of choice, for instance — but also serves commercial businesses.

The acquisition will allow Flywire customers to pay “with whatever method of payment they want,” John Talaga, the current CEO of OnPlan, told Bank Innovation.

OnPlan will continue to operate under its own heading “in the short term,” Talaga told Bank Innovation. Talaga will join Flywire as the head of its healthcare segment, he said. Company CTO, David King, will also join Flywire, heading up a development team focused on education and healthcare products.

OnPlan’s payment processing technology will be integrated with Flywire’s global payments network over the course of 2018, the company said, and will allow for Flywire customers to have full access to those features.

“Basically, OnPlan’s technology and their domain expertise allows us to be more flexible [with payments],” Butler told Bank Innovation.

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