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Higher One Launches VendorPay for Colleges and Universities

  Higher One Launches VendorPay for Colleges and Universities

  New Higher One e-Payment System Increases Efficiencies by Allowing Campus
                    Accounts Payable to Go 100% Electronic

Business Wire

NEW HAVEN, Conn. -- November 26, 2012

Higher One, a leader in providing financial services and data analytics to
over 1,250 college and university campuses across the U.S., announces the
launch of its new service, VendorPay, for institutions of higher education.
This new streamlined payment processing system is designed to create
significant efficiencies and cost savings in the campus’ Accounts Payable
department. VendorPay eliminates paper check disbursements to the campus’
vendors and suppliers and offers those vendors and suppliers an option to
receive their payments faster and more predictably.

VendorPay simplifies Accounts Payable disbursements by streamlining not just
the payment process, but also the secure storage of vendor data and payment
preferences as well as detailed reporting and data for remittance and
reconciliation for both the institution and the vendor.

Higher One’s VendorPay is powered by trusted bank partner, WEX Bank, a
subsidiary of WEX Inc. (NYSE: WXS), a leading international provider of
physical, digital, and virtual corporate card payment solutions, as well as
Boost Payment Solutions, the leading expert in supplier enablement strategies
and implementations for business-to-business electronic payment programs. The
result is an established solution, tailored for the higher education market.

“VendorPay represents an opportunity for a campus to achieve significant cost
savings, which is essential as colleges and universities are forced to
navigate a challenging budgetary climate,” said Miles Lasater, COO and
co-founder of Higher One. “Higher One is excited to bring its decade of campus
know-how in streamlining disbursements to Accounts Payable. We are confident
that VendorPay can be a win-win on both ends in terms of speed of delivery of
payment, security, and reporting.”

“We are pleased to partner with Higher One to leverage the combined strengths
of our technology solutions with Higher One’s deep industry knowledge and
experience to deliver new efficiencies and cost savings for the higher
education market,” said Jim Pratt, vice president of corporate payment
solutions at WEX.

Vendors will receive their payment in the method of their choosing, which are
to include Buyer Initiated Payment (BIP) and checks. For more information on
how to transition from paper checks to an electronic system, visit
higherone.com/VendorPay.

About Higher One

Higher One Holdings, Inc. (NYSE: ONE) is a leading company focused on creating
cost-saving efficiencies for higher education institutions and providing
high-value services to students. Higher One offers a wide array of
technological services on campus, ranging from streamlining the institution’s
performance analytics and financial aid refund processes to offering students
innovative banking services, tuition payment plans, and the basics of
financial management. Higher One works closely with colleges and universities
to allocate resources more efficiently in order to provide a higher quality of
service and education to students.

Founded in 2000 on a college campus by college students, Higher One now serves
more than half of the higher education market, providing its services to over
1,250 campuses and 10.8 million students at distinguished public and private
institutions nationwide. More information about Higher One can be found at
HigherOne.com.

Contact:

Media:
Higher One Holdings, Inc.
Shoba V. Lemoine, 203-776-7776 x 4503
slemoine@higherone.com
 
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