Go Cashless with Online School Fees Payment System
Go cashless and paperless with Online School Fees Payment System.
Like we all are aware some years back, the method of collecting fees on every institution was very different from what we have in current times. Previously, parents have to stand in long queues in front of the administrative office to pay their child’s academic fees on time and the school admin had to spend an endless amount of time and effort to manage every transaction appropriately. Institutes used to maintain each & every record in the big paper-based files, which was not environmentally friendly and it inflates the excessive amount of paper usage.
But with the advent of new technology, now fees collection has become a hassle-free task for every institution. Online School Fees Payment System, is every institute’s go-to solution as it automates fees payment operation, compiles error-free calculations, and digitizes fees receipt generation which helps every institution to manage their fees-related functions smoothly and seamlessly.
Additionally, the admin can create individual digital profiles for every student where they can maintain fee-related records and share it with parents/students so that they can track their pending and upcoming fee payments from their login portal. This minimizes the fees payment delay and keeps everyone on the same page.
Why educational institutes must invest in Online Fees Payment Systems?
Since the Digital India Program launch, most of the educational institute has embraced the digital technology in order to modernize their campus and boost the teaching-learning experience. Still, some institutes are reluctant to embrace digital technologies such as a cashless mode for fees collection. They are still following the same old traditional approach to collect fees which not only increases the administrative time spent on cash handling but is also inconvenient for 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:
|Traditional Fees||Online Fees|
|Different Modes||Casd, DD, Challan, Cheque||Internet Banking, Credit/Debit card, UPI, Mobile Wallet|
|Record Keeping||Paper-Based. Not environmental friendly||Digital Data Storage Availability.|
|Data Accessibility||Remotely Not Available. |
Admin has to be physically present on the school premises to access the data.
|Remotely Available. |
Access data from anywhere around the world.
|Convenience||Not Convienent. |
As parents have to be physically present to submit their child’s fees
|Very Convenient. |
Pay fees at the comfort of their home.
|Notification/Alerts||Cannot communicate with parents in real-time.||Send real-time notifications, alerts|
|Time Consuming||Very. As parents have to stand in a long line to submit the fees.||Not at all. Complete transaction in few minutes.|
In order to prepare your institute for Digital India, Fedena Online Fees Management module is not only restricted to digitizing fees collection activity but is designed to handle all fees and school finance-related activities in the educational institutions. Let’s see what all can be managed using Fedena Online Fee Management Module:
- 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.
- 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.
- 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.
- 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.
- 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
- 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.
- Manage Donation and Asset Liability – Maintain record of every donation, asset and liability on a single platform
- 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.
- Schedule Payment Reminder – Institute can schedule payment reminders to automate the fees collection process.
- Minimize Paper Wastage – Digital fees collection to advance paperless infrastructure in your institution. From fee receipt to payment record effortlessly handle every detail online.
- 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.
- Mobile Convenient – Parents don’t have to depend on desktop devices to pay the fees, they can pay it via mobile devices as well.
- 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.
- 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.
- 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.
- 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 Fedena
- 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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