The pandemic we are facing has changed the very definition of ‘normal’. Every field is facing the consequences and now, fortunately trying to get back in the game. Everyone is trying their hardest to not only survive the pandemic but also to overcome it. And the education field is not an exception. With the announcement of the new education policy and trying the new ‘online’ ways to deliver the ‘knowledge’, the education field is starting to get back in the repo. Where there is still a doubt about whether to start the new academic year or not, online education seems to be a better option.

Schools, colleges, private tuitions though has started virtually, are still meeting with shortcomings such as network issues, giving each student personal attention, etc. And one of such problem is collecting fees. Before the whole COVID 19 situation, fees were submitted by the student or parent guardian of the student in the form of cash, cheque, dd, etc. as simple as that was, today this situation is not exactly feasible.

So, if you own an educational institute or soon planning to start one, you have to consider the seamless option for collecting fees and that is online payments.

Why online payments?

Here are the advantages of using online fees collection for your educational institute-

Quick payments – Using online payment collection is all about convenience. It is easier for parents to make an online payment at any time from anywhere they want. Fees can be collected online at parent’s convenience and it makes an extremely time-saving process.

Customized payments – Fees vary based on many things, like grades, subjects, etc. For private tuition, fees may vary from student to student. In this case, fees collection by online methods can be extremely convenient. Many online payment solutions offer the facility of sending customized payments.

Installation – Many online payment collection solutions don’t need any physical setup, many of them can be operated from laptops, mobiles, or tablets. This makes online payment collection more accessible and scalable. Many of them are easy to install and operate applications. This means any amount and number of students can get accommodated in the scope of the solution.

Data backup and security – Parents need to know that their transaction and data used to make an online transaction is safe and secure. It is mandatory for online payment service providers to follow certain security standards and guidelines provided by RBI. Security standards like PCI DSS, 3DS, etc make sure that parents, institute’s personal and transaction information are safe and secure.

User-friendly – Nearly all of the online payment service providers offer an extremely easy user interface, may it be an application, back office, or add ons. Most of the applications are easily available on the android play store and are easy to install and use. The back office provided for analysis and tracking payments is also user friendly and provided with clear instructions. Many solution providers also offer 24/7 help assistance. With this, it is easy for parent guardians as well as education institutes to accepts and keep track of online fees.

Reports and analysis – It is extremely important to receive reports and notifications of the transactions, for institutes as well as for parents. Online payment collection solutions offer the back office system, online invoice generation system and more add ons.

Along with the analysis, dashboard, and daily reports, many online payment service providers offer account management, revenue management, fee management system, etc. Using online payments for fee collection does not only save manual efforts, but it also reduced the possibility of human error.

Lyra’ WhatsApp Payment Solution for online fees collection