Go cashless and paperless with Online School Fees Payment System

A few years ago, the process of fee collection in institutions was vastly different from the present times. Back then, parents had to queue up for extended periods in front of the administrative office to ensure their child’s academic fees were paid on time. Additionally, the school administration had to dedicate a substantial amount of time and effort to manage each transaction correctly. Institutions maintained every single record in bulky paper-based files, which was not only detrimental to the environment but also resulted in excessive paper usage.

The introduction of new technology has revolutionized the process of fee collection in institutions, making it a convenient and seamless task. The Online School Fees Payment System has emerged as the preferred solution for every institution, as it automates the fees payment process, ensures accurate calculations, and generates digital receipts. This has enabled institutions to manage their fees-related functions with ease and efficiency.

Moreover, the administration can establish personalized digital profiles for each student, wherein they can maintain records related to their fees and share them with parents or students, enabling them to track pending and upcoming fee payments conveniently through their login portal. This streamlined process minimizes the chances of delay in fee payments and ensures everyone stays informed and updated.

Why educational institutes must invest in Online Fees Payment Systems?

With the inception of the Digital India Program, numerous educational institutions have adopted digital technology to revamp their campuses and enhance the teaching-learning process. However, some institutions are hesitant to embrace digital technologies such as cashless payment methods for fees collection. They continue to rely on the conventional approach, which not only results in increased administrative time spent on cash handling but also causes inconvenience to parents.

Let’s look at the table to understand the difference between traditional vs online fees collection systems comprehend that why institutes must invest in fees management solutions: 

To align your institution with the Digital India initiative, the Classmentor Online Fees Management module is an ideal solution. It not only digitizes fees collection but also caters to all finance-related activities in educational institutions. The Classmentor Online Fee Management Module offers a comprehensive range of features that enable seamless management of various financial aspects. Let’s delve into what this module can manage:

  1. Cashless Fees Payment –  Students can pay the fees directly via web or mobile app, in the comfort of their home, by using a secured payment gateway provided by their institution. 
  1. Track Fees Defaulters & Refunds – Institute can regularly check the fees defaulters and send notification to students/parents about pending fees via email or sms. Additionally, they can manage entire fee refund process online.  
  1. Customized Fees and Finance Reports – To keep a track on monthly or daily income and expense institute can create transaction reports and share it with other staff members.   
  1. Automate Tax Calculation – Calculate tax on all type of fees transactions – general fees, instant fees, transport, and hostel fees. Institute can create various tax slab such as VAT, GST and more. 
  1. Add Discount and Offers – Adding discount and promotion with traditional fees collection approach is not feasible as when parents submit their child’s fees via cheque, DD or challan they cannot add promotion code. But with online payment    
  1. Create Fees Categories – Institute can various fees categories such as academic fees, hostel fees, sports fees, lunch fees and many more. Also, they can set up customised fee structure according to their institution need.  
  1. Manage Donation and Asset Liability – Maintain record of every donation, asset and liability on a single platform 
  1. Personalized Dashboard – Online fee payment module, provide dedicated portal for all stakeholders such can students, parents, teachers and other staff members so that they can view and track school fees directly from their account from both desktop and mobile device. 

Multiple Benefits of Online School Fees Payment Module

There are various benefits that institutes can take advantage of after implementing the Online Fee Management Module in their organization ecosystem.

  1. Schedule Payment Reminder – Institute can schedule payment reminders to automate the fees collection process. 
  1. Minimize Paper Wastage – Digital fees collection to advance paperless infrastructure in your institution. From fee receipt to payment record effortlessly handle every detail online. 
  1. Secured Transaction – The overall online payment environment is much more secure and safe than from offline transactions. As it eliminates the possibility of cash getting lost or stolen vis students during their commute. 
  1. Mobile Convenient – Parents don’t have to depend on desktop devices to pay the fees, they can pay it via mobile devices as well. 
  1. Data Storage and Backup Facility – Store all finance related data on one place and provide data backup facility in case data is lost or stolen.  Along with this, control the data accessibility so that only authorized users can access data.
  1. Instant Digital Fees Receipt – Generate digital receipts in a click of a button. Once the transaction is complete parents receive an e-receipt directly on their registered email ID / mobile number. 
  1. Error-free Calculation – Manually evaluating fees while considering all fines, discount and other factors can sometime prone to human-error or miscalculation, but with fee management module, whole process become automated. 
  1. Detailed Reports – Generate student-wise or daily transaction report in CSV format and instantly share it with top management so that they can take better and informed decision. 

Types of Online Fees Payment Options Available in Classmentor

  • Payment Gateway – Smoothly integrate with the most used payment gateway such as Razorpay, PayU, Paytm, Instamojo and many other. Fedena allow custom integration with most payment gateways of your choice without demanding major customization works. 
  • Credit Card / Debit Card – Paying fees using credit or debit card is one of the most preferred e-payment option among all users. To pay fees using credit or debit card, parents just need to log in to their portal & do the proceedings by filling bank & card details.  
  • Net Banking – Fedena online school fees payment system, support pupolar banks support so that parents can easily pay the online.
  • BBPS Integration- To provide you more options, Fedena has recently rolled out the integration with the BBPS bill payment platform. After registering your Fedena enabled institutes with the BBPS platform, students can directly search their institution, view pending and upcoming fees, and pay the pending amount with the click of a button.

Are you ready to take your institute fees collection process online? Contact us to know more and get a personalized demo today!

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