Introducing Pay With Wallet - Online Fee Payment

Aug 16 2021 | 3 minutes read

A more efficient and time-saving method for schools to collect and reconcile fee payments while also providing convenience for parents.

Schools lose money to fraud as a result of the old and inefficient way of collecting and reconciling fee payments. The old and inefficient way of collecting and reconciling fees involves the following:

• Going to the bank to make payment and presenting a Bank Teller (A bank teller can be faked or misplaced).
• Transferring to the school account and calling the school to confirm payment. (Transfer can be done to the wrong account and payment confirmation can be delayed).
• Accepting cash and manually recording and applying fees made to a child's name. etc. (This is prone to error and creates a loophole for fraud).

The concerns listed above can be time-consuming, frustrating, and prone to errors. Also, it can be embarrassing for the parents and the school when evidence of fee payment is requested from the students or parents even after payment has been done.

There is a better way for schools to collect and reconcile fee payments and a convenient way for parents to pay fees. In line with our Cashless School Solution, we have therefore rolled out a feature called Pay With Wallet to power fee payments.

Pay With Wallet is a secure and fast way for schools to collect and reconcile fee payments and a convenient way for parents to pay fees.

How it works

Generate Term Bill >>> Send Payment Link >>> Start Accepting Payment

Benefits of paying with a wallet

Flexible and Seamless Payment Collection

No more bank tellers, transfer to the school account, presenting evidence of payment made. Parents can easily pay with their Cards, Bank transfers, or via a generated payment Link from the comfort of their home or office.

Easy and Automated Payment Reconciliation

The pay with wallet feature automates fee collection, reconciliation, and sending of payment acknowledgment. No more calling to confirm if payment has been done or received.

Fraud Eradication and Reduced Workload

This method of fee collection eradicates errors and the loopholes for fraud created by the old system of fee collection. Since payment collection, reconciliation and acknowledgment are automated, the workload of the accounting office has been reduced by 80%.

The Pay With Wallet feature is convenient, safe increases revenue opportunities and administrative efficiency and gives room for easy, fast, and insightful audits. To know more about this feature, contact Prodigy School Suite