If your school is facing difficulty in processing online school payments, consider switching to a proven payment software. Proven payment software enables you to accept all major credit cards for tuition and fee payments. You can also use it for accepting donations or sponsorships from parents of students under your care. The best part about this software is that they are user-friendly. This implies that you will only require a little training to be able to run them perfectly.
Today, several schools have switched over to this software because it helps them meet their financial objectives. This is because this software has a very high level of security and flexibility. It also allows your school to accept payments from anywhere in the world and anytime. In addition, it is reliable and intuitive enough for both school staff and parents. With all these benefits in place, this software will help your school grow its income stream.
Why Certain Payment Software is Better Than Others
When it comes down to choosing a payment software, it is important to research and see which one is best for your school. There is some payment software out there that is better than others, but it is up to you to decide which one is better.
When choosing a payment software, you have to consider if it has been used in the education sector before. In addition, you need to check if it has all the features that your school needs. In most cases, these were manually facilitated and this was very expensive for schools. Proven payment software has been tested, and this means that it is more secure to use with fewer errors.
In addition, when asked about the benefits of choosing a payment software supplier over an in-house solution, many users said that they found it easier to have everything integrated under one roof. It also makes it easy not to have to worry about anti-fraud and anti-money laundering compliance.
You also need to consider if the payment software has responsive customer service. In other words, this means that whenever you have any issue with it, you should be able to get help from their support staff immediately. This is very important because it enables your school to run smoothly and prevents system downtimes and security breaches.
How Online Payment Processing Benefits Your School
There are many benefits to having online payment processing for your school. Here are five of the biggest benefits when you use online payment processing.
#1: Customers are more likely to pay by credit card
If you accept payments online, it will make the lives of your customers easier. In other words, they can now make their payments by using any means that is convenient for them. This means that customers who do not have cash or checks on them can still pay their monthly tuition fees without issues. Also, customers who are on the go can now pay for their tuition fees using their mobile devices.
#2: You save on processing fees
When you choose to have a school payment software, you save on transaction processing fees. Proven payment software providers do not charge any transaction processing fee because it is paid directly by the customer. In other words, this means that the money from the customers is immediately deposited into your school’s bank account. You can now use these extra funds to pay for other school needs such as repairs and maintenance.
#3: Customers’ payments are always available
Online payment processing allows you to track customers’ payments easily. As a result, you will not need to waste time chasing customers for monthly tuition payments. Their payment history can be accessed at any time of the day.
#4: You do not need extra staff
One of the reasons why more and more schools are using online payment processing is that they no longer need an additional staff member to help with school payments.
#5: Your school’s reputation is improved
One of the best benefits of online payment processing is that your school’s reputation will improve greatly. This is because you are more likely to attract new customers who might not have enrolled their children in your school before. You can now capture a wider audience and attract parents with different financial backgrounds.
How Payment Processing Works
Many of you may be wondering how payment processing works. You will be able to accept any form of payment that your customers prefer to use including credit cards, debit cards, and online funds. The software provider then processes the payments on your behalf before the money is transferred into your school’s bank account. The software provider can also integrate your school’s payment system with major bank systems.
This is the reason why many parents prefer to use online payment processing for their children’s tuition fees. In addition, online payment processing saves you a lot of money as it allows you to accept payments from anywhere in the world. It also ensures that your school receives payments on time and in the correct amount.
Processing school payments is a challenging task. If you are tired of struggling with daily cash-based transactions or managing multiple checks, then online payment processing is for your school. Not only will it improve your cash flow, but you can also use the extra funds to improve other parts of your school. The best part about it is that you do not need any extra staff to help you with this task. Also, your school’s reputation will improve greatly. All you need to do is choose the online payment processing system that is best for your school and start using it.
SchoolCues is an all-in-one school management system for small schools with limited budgets and resources. Our solutions include admissions and enrollment, online payments, student information system, gradebook, communications, parent engagement, donations and fundraising, alumni management and more. Schedule a demo with us today.