Providing an online school payment processing system is one of the most effective steps a school can take to reduce the time and effort needed to process school fees, to get timely access to funds, and to engage parents and students in school activities.
If your school is considering moving in this direction, you have certainly asked yourself what are the benefits of switching to an online payment processing service?
Why Choose an Online Tuition Credit Card Payment Processing Services?
- Quicker access to payments and fees. Instead of waiting for checks to arrive by mail, the manual input of payments, and then trips to the bank, your office can enjoy the ease of electronic payments automatically hitting your school’s account. Increase your cash flow simply by switching to an online processing system.
- Engage more families in school activities. By eliminating the need for families to wait in line or visit your school in person during business hours you can engage a greater number of families in the paid activities your school offers.
- Fundraising platform. Extend fundraising to non-local family members and alumni by sharing a clickable link through email, your website, or social media. Parents, friends, and relatives can all purchase tickets or easily make a donation by credit/debit card from the comfort of their home.
- Save time processing paperwork. Everyone wins here! When you choose a payment processing system that can be integrated with various accounting systems, you automatically reduce the strain of data entry on your front office. Enjoy easy access to various reports and logs. Parents and students can easily pull up their payment setting and payment history by logging into their account from any computer or smartphone.
- Avoid overdraft fees. There is no need to worry about costly fees from insufficient funding with real-time account verification.
- No lost checks. Eliminate the risk of payments that are misplaced or misfiled in your office. The funds are deposited directly to your designated account!
Mistakes Which Can Cause Schools To Avoid Using an Online Payment Processing System
- Don’t be scared off by processing fees! Many of the fees are lower than you think, and are well worth the hours saved by your front office.
- Fear of losing access to your money. All funds are securely deposited to your school’s account! This is actually much safer than dealing with piles of checks or cash payments sitting in your front office.
- Fear of excluding low-income families by limiting payment options. With the option to pay by a linked bank account, debit, or credit card, all families can benefit from the ease of an online payment processing system. You can also choose to set up a payment plan so that families can make payments over a designated period of time.
- Creating complications by trying to manage multiple systems. Choose a system that can be integrated with your accounting software. An online system can be used not just for tuition and fees, but for all your fundraising needs, including ticket sales!
- Worrying about secure transactions. We are proud to offer the highest security and PCI compliance in the industry, so sensitive information is always kept safe and secure.
- Not integrating with cafeteria management or SIS platforms. Again, an online payment system can be used for much more than just receiving tuition and fee payments! Take advantage of this opportunity to streamline your payments.
- Not acting because merchant accounts are confusing. Set up a free demo to learn more about the payment processing system. You can come with a list of questions and concerns that require further clarification!
Benefits of Having an Online School Payment Processing System
There are many details to manage when implementing an online school payment processing system and these details can keep schools from doing anything at all. However, with the right online tuition credit card payment processing services, the benefits from such a system far outweigh the complications. Schools can save up to 90% of the time they typically spend processing payments by implementing an online payment portal. Schools with online payment portals collect more fees on time and overall, due to the convenience provided. Parents may complete registration for more school activities when they can pay online. Parents appreciate fees being processed in real time, rather than waiting for proper checks to be processed and cleared. Parents also respond rapidly when invoice statement emails include a link directly to their portal where they will find a variety of payment options.
Online tuition credit card payment processing services is trending today and more and more schools are depending on it for a smoother and error-free fee payments. Want more information on online school payment processing system? Get in touch with Compuwerx.