Why does your Educational Institute need an Online Payment System?
In recent months, all of us have heard extensively about the “war on cash”, the move to make India a “cashless economy” and transform into a digital and information-enabled country. Even tea-sellers are accepting digital payments in many parts of India. The global payment market is expected to cross approximately $50 billion by 2025. By that time schools and education markets will be one of the major contributors to this valuation.
A payment gateway is the simplest way for a School Management to collect payments online and keep track of them with minimal effort. Payment gateways make the fee collection process hassle-free by empowering schools to collect fees online, in a way eliminating the time and labor spent in traditional methods. EazySchool has partnered with CCAvenue to bring a seamless and secure experience for parents and schools alike.
Benefits of payment gateway
Security and Safety are the primary concerns for the parents when it comes to online payments as it deals with sensitive financial information. A payment gateway checks and validates each online transaction, ensuring they are in compliance with PCI –DSS with 128-bit encryption standards. Using machine learning, fraud cases can also be prevented based on payment patterns, location, and many more factors for safety and reliability.
Accept Payments from Anywhere
With the implementation of an online payment gateway, there are no boundaries for locations where parents can make payments. They can pay from anywhere across the globe with just need a card or bank account that is compatible with the payment gateway. This is not only helpful for international parents but is also a huge convenience for parents as it saves them tons of travel time to schools and banks.
Getting a competitive edge
For school management, an option to receive online payment can improve reputation and branding, allowing it to gain the trust of the existing and potential parents. As the world is rapidly moving towards an increasingly virtual infrastructure, you cannot afford to ask for payments via cheques as the traditional strategy will become obsolete. Adopting a payment gateway integrated ERP software such as EazySchool will give your school the competitive edge it needs.
Seamless Transaction Management
Online payment processing will reduce the administrative burden of the school. The transactions are seamless and take place instantly in real-time. Receipts and transaction tracking has never been easier for administration with the help of automation. School management can also check financial information remotely.
Different Modes of Transaction
With so many digital payment options available today, it is beneficial to give parents the opportunity to choose their preferred payment mode such as debit, credit, Net Banking, UPI, mobile payments, etc. Transactions can be made on multiple devices with the same level of simplicity and security. On the whole, this is an added convenience and attends to the needs of a wide and diverse range of parents.
EazySchool Introduces Online Payments
EazySchool is now rolling out an online payment gateway feature for existing schools. With 1 click, parents can check the amount that is due and pay it in installments or in full. Similarly, logistical and administrative stress is effectively reduced by giving them full control of transaction tracking.
If your institute is already partnered with EazySchool, please contact our support team for the next steps. If your institute would like to partner with EazySchool, please contact our sales team for a demo.