Latest news with #EasyTransfer


Business Wire
a day ago
- Business
- Business Wire
EasyTransfer Scales Student Payment Services in North America with Integrated Backend Solutions for Universities
SINGAPORE--(BUSINESS WIRE)-- EasyTransfer, a global leader for student-centric cross-border tuition payments, today announced its expansion in North America with a new integrated backend solution for universities and two new key hires. This marks a significant milestone in the Singapore-based global education fintech company's mission to simplify and streamline international education payments globally and builds on over a decade of success, with more than $3.5 billion in annual tuition payments processed and over 800,000 international student families served. Backed by renowned investors including Tencent and IDG Capital, and integrated with major platforms like the WeChat App, UnionPay App, and leading commercial banks, EasyTransfer has earned the trust of students and families globally. Now, the company is expanding its best-in-class experience to universities, colleges and independent schools. 'Deeper investment in North America is a natural next step for us,' said Tony Gao, Co-Founder and President of EasyTransfer. 'Putting students and families first has always been in EasyTransfer's DNA—it's good ethics and a smart approach that we want to make sure international students in North America can benefit from. Our partners also get to see stronger payment adoption, higher retention, and happier students.' To lead its expansion across the U.S. and Canada, EasyTransfer has appointed cross-border payments veteran Andy Benkis as Vice President of Operations and Business Development, North America. Andy brings over 20 years of experience in the payments industry, including leadership roles at First National of Nebraska—the largest privately held bank in the U.S.—as well as Fortune 500 companies such as StoneX and Western Union Business Solutions. He is joined by Stephen Golding as Strategic Advisor. Golding's previous roles as Executive Vice President of Finance and Administration at Cornell University and Chief Financial Officer at the University of Pennsylvania bring deep institutional insight to the expansion. This North American expansion follows the company's successful growth in the U.K., where EasyTransfer is quickly becoming the payment provider of choice for students from major source country markets including China, India, and Nigeria. In 2024 alone, the company facilitated billions of pounds in payments to British institutions—including 11 university partners, four of which are from the prestigious Russell Group. With an in-house IT development team, EasyTransfer seamlessly integrates with its university partners' systems to further enhance the international payment experience for students. Powering the Next Wave of Global Education While EasyTransfer's roots are in providing D2C payment solutions for students, the company has rolled out a streamlined backend option tailored for North American schools—ensuring faster recognition of payments and improved compliance. Payment queries are then also redirected from educational institutions to EasyTransfer's 1-to-1 human support team, easing the burden on partners' resources and simplifying tuition payment processes. Now, with international students themselves requesting deeper integrations at their universities and schools, EasyTransfer is inviting North American institutions to partner in co-creating a student-first future for global education payments. 'In a space long dominated by now aging platforms, EasyTransfer stands out,' said Stephen. 'They've earned student trust at scale. That's rare—and it's powerful.' Built by Students, for Students This includes being built into mobile banking apps and country-specific instant messaging EasyTransfer's direct-to-consumer (D2C) model disrupted the traditional cross-border payment market by offering lower fees, better exchange rates, and 1-to-1 human support in the payer's native language and time zone—all through familiar, local channels apps, creating a 'pay like a local' experience across Greater China, Southeast Asia, South Asia, and Africa. 'Most providers optimize for institutions,' said Andy. 'We optimize for families, which maximizes our impact for institutions. That's why our average student makes over six repeat payments through EasyTransfer—a clear sign of satisfaction and trust in our services.' EasyTransfer partners with international agents, schools, accommodation providers, student associations, and counselors to support every stage of the student journey, from selecting their preferred institution through receiving their degree. This comprehensive, grassroots approach has fueled strong organic growth and deep loyalty, with students themselves now calling for deeper integration of EasyTransfer into university payment systems.
Yahoo
04-04-2025
- Business
- Yahoo
Con man who defrauded over 200 people in $24.5M Ponzi scheme sentenced to 18 years
A man was sentenced to 18 years in jail in New York for running a $24.5 million Ponzi scheme in which he defrauded over 200 victims in sham loan programs and used the money to fund a lifestyle of luxury goods and lavish hotel stays — while some of his bankrupt victims struggled to pay for chemotherapy. Francius Marganda, 42, was sentenced Thursday in Brooklyn court in connection with running the three-year scheme, New York prosecutors announced. He's been ordered to pay $8.5 million in restitution and $7.5 million in forfeiture. Marganda ran the scheme from May 2019 to May 2021 while living in New York after overstaying his visa, prosecutors said. In the plot, he solicited people — primarily Indonesian and Indo-American investors — to invest in two sham programs, called Easy Transfer and Global Transfer. He and co-conspirators falsely claimed the programs to be short-term, high-interest loan programs where investors could earn passive incomes, promising rates of return as high as 200% or more. Instead of investing that money, Marganda and his co-conspirators allegedly misappropriated the funds for their own benefit, spending on real estate, luxury goods, paying off credit card bills while laundering the proceeds into their bank account. In one instance, more than $3.8 million in scheme proceeds were transferred into one of Marganda's personal accounts over 11 months, and more than $264,000 in proceeds was used to pay off his credit card bills, the release said. The scheme collapsed in May 2021 when Marganda and co-conspirators stopped making payments to investors. Marganda fled the U.S., and got an Indonesian passport under a fake name, prosecutors said. Then he continued to use the scheme money to stay in luxury hotels around the world — including France, the Maldives, Nepal and Thailand. At least 237 victims, ranging in age from 24 to 84, were identified, with losses of more than $24.5 million. The victims resided in at least 31 states, including New York, Washington, D.C., as well as Indonesia and Malaysia. 'Many of the victims had limited means and had pooled their resources with relatives and friends to make investments in U.S. dollars and Indonesian rupiah,' prosecutors said in a news release. Victim statements were presented at Marganda's sentencing and many said the fraud caused them to declare bankruptcy, lose nearly all their savings, and suffer serious hardship. One victim struggled to pay for a family member's chemotherapy, due to the fraud. Another struggled to pay for medical expenses associated with a family members's stage 4 lung cancer diagnosis. Another lacked funds to travel and pay respects after both of their parents died, the release said. In November 2023, Marganda was extradited from Singapore to the U.S. He pleaded guilty to securities fraud in July. 'Marganda's attempt to evade justice by fleeing halfway across the world to hide in fancy hotels was futile, as he found out today in a federal courtroom in Brooklyn,' John J. Durham, the U.S. Attorney for the Eastern District of New York, said in a statement. 'It is my hope that this prosecution will bring some measure of relief to the victims of Marganda's fraud, who trusted him with their life savings because of their shared nationality and were cruelly exploited by him.' Florian Miedel, an attorney for Marganda, told NBC News: 'Although greatly disappointed in what is an extraordinary sentence for a first time offender, Mr. Marganda will use his time behind bars productively and will endeavor to pay his victims back when he is released.'This article was originally published on


NBC News
04-04-2025
- NBC News
Conman who defrauded over 200 people in $24.5 Ponzi scheme sentenced to 18 years in jail
A man was sentenced to 18 years in jail in New York for running a $24.5 million Ponzi scheme in which he defrauded over 200 victims in sham loan programs and used the money to fund a lifestyle of luxury goods and lavish hotel stays ... while some of his bankrupt victims struggled to pay for chemotherapy expenses. Francius Marganda, 42, was sentenced Thursday in Brooklyn court in connection with running the three-year scheme, New York prosecutors announced. He's been ordered to pay $8.5 million in restitution and $7.5 million in forfeiture. Marganda ran the scheme from May 2019 to May 2021 while living in New York after overstaying his visa, prosecutors said. In the plot, he solicited people — primarily Indonesian and Indo-American investors — to invest in two sham programs, called Easy Transfer and Global Transfer. He and co-conspirators falsely claimed the programs to be short-term, high-interest loan programs where investors could earn passive incomes, promising rates of return as high as 200% or more. Instead of investing that money, Marganda and his co-conspirators allegedly misappropriated the funds for their own benefit, spending on real estate, luxury goods, paying off credit card bills while laundering the proceeds into their bank account. In one instance, more than $3.8 million in scheme proceeds were transferred into one of Marganda's personal accounts over 11 months, and more than $264,000 in proceeds was used to pay off his credit card bills, the release said. The scheme collapsed in May 2021 when Marganda and co-conspirators stopped making payments to investors. Marganda fled the U.S., and got an Indonesian passport under a fake name, prosecutors said. Then he continued to use the scheme money to stay in luxury hotels around the world — including France, the Maldives, Nepal, and Thailand. At least 237 victims, ranging in age from 24 to 84, were identified, with losses of more than $24.5 million. The victims resided in at least 31 states, including New York, Washington D.C., as well as Indonesia and Malaysia. 'Many of the victims had limited means and had pooled their resources with relatives and friends to make investments in U.S. dollars and Indonesian rupiah,' prosecutors said in a news release. Victim statements were presented at Marganda's sentencing and many said the fraud caused them to declare bankruptcy, lose nearly all their savings, and suffer serious hardship. One victim struggled to pay for a family member's chemotherapy, due to the fraud. Another struggled to pay for medical expenses associated with a family members's stage 4 lung cancer diagnosis. Another lacked funds to travel and pay respects after both of their parents died, the release said. In November 2023, Marganda was extradited from Singapore to the U.S. He pleaded guilty to securities fraud in July. 'Marganda's attempt to evade justice by fleeing halfway across the world to hide in fancy hotels was futile, as he found out today in a federal courtroom in Brooklyn,' John J. Durham, the U.S. Attorney for the Eastern District of New York, said in a statement. 'It is my hope that this prosecution will bring some measure of relief to the victims of Marganda's fraud, who trusted him with their life savings because of their shared nationality and were cruelly exploited by him.' Florian Miedel, an attorney for Marganda, told NBC News: 'Although greatly disappointed in what is an extraordinary sentence for a first time offender, Mr. Marganda will use his time behind bars productively and will endeavor to pay his victims back when he is released.'