Cross-Border Specialist Flywire Beefs up Payment Offerings With Its Deal for OnPlan

Flywire Corp., which since its start in 2011 has focused on international payments, on Thursday announced it has acquired OnPlan Holdings LLC, a Bannockburn, Ill.-based company that specializes in payments and receivables management for the health-care and education markets. Financial terms were not announced.

OnPlan, with its units OnPlanHealth and OnPlanU, will complement and bolster the payment capabilities offered by Flywire, the company said.

“The addition of OnPlan solidifies our market leadership position by enabling us to go deeper to address specific client needs in education and health care, and giving our clients the ability to manage all payments and receivables from a single platform,” Flywire’s chief executive, Mike Massaro, said in a statement. “Our clients have been pushing us for this, and the OnPlan team brings a tremendous amount of technical capability and domain expertise to address it.”

Boston-based Flywire started out managing tuition payments for students attending foreign universities and colleges. Last year, it extended its cross-border payments capability to business-to-business transfers.

Under the terms of the deal, John Talaga, OnPlan’s chief executive and co-founder, will run Flywire’s health-care unit. Fellow co-founder David King, chief technology officer for OnPlan, will run product and development efforts for Flywire’s education and health-care units.

“We’ve had the opportunity to collaborate with Flywire on multiple occasions, at the request of several of our mutual clients,” Talaga said in a statement. “While we complement their platform in several important ways, Flywire offers OnPlan tremendous scale with supportive and engaged investors, capital for growth, access to new markets, and a global customer-support infrastructure.”

OnPlan Health specializes in offering providers technology, including a Web portal, to allow patients with high out-of-pocket costs to settle their bills. OnPlanU automates student account setup and payments and allows institutions to offer payment schedules for individual students.

OnPlan was founded in 2014. “In a short period of time, they have built a very strong product and we are excited to bring it to our global client base,” said Massaro.