Media article published by iTWire on 28 July 2020.

Brisbane-based payment solutions provider Cohort Go has incorporated in Brazil and partnered with local Brazilian bank, Itau, to provide what it claims is an “easier, more cost-effective money transfer solution” for Brazilian students studying internationally.

Cohort Go - founded in 2011 - announced on Monday an expanded offering for Brazilian students, building on existing payment options to provide “added convenience, an improved payment process and cost savings” for those with an Itau bank account.

Cohort GO says that currently, over 50,000 students leave Brazil each year to gain an international education as domestic students look to foreign institutions with better access to funding and resources.

Given the impact COVID-19 has had on Brazil, Cohort Go CEO, Mark Fletcher, said he wanted to provide Brazilian students a :more manageable way to pay their education expenses during this period of economic uncertainty”.

“When the COVID-19 outbreak occurred, we heard from many of our Brazilian agents about the difficulty their international students faced, and how this might jeopardise the already significantly impacted sector. We wanted to ease this burden for the students and for the sake of our agents' livelihoods,” Fletcher said.

“Incorporating in Brazil and expanding our payment offering with an Itau bank account was critical to ensuring students and agents a smoother, more efficient and cost-effective solution, so students can resume their international education in the shortest possible timeframe.”

Director of CCIBrasil, Kamil Daiha said Brazilian agents are finding it much cheaper and easier to pay international education expenses with Cohort Go’s new solution.

“It was great news to hear Cohort Go had given us this new choice to transfer to their bank account in Brazil,” Daiha said.

“Banco Itau is one of the best options for business accounts, and now Cohort has opened an account there, we can send them money without any transfer fees. That’s good for most of the agencies in Brazil.”