Role of Fintechs in the education sector

Role of Fintechs in the education sector

We’ve learnt that parents and college students are avoiding the risk of going to a bank’s branch and are looking for more convenient ways to pay their school fees. By signing up with PayPro schools enable their customers to pay through digital bank transfers as well as debit/credit cards. However, making them aware of this facility remains of the utmost importance. Therefore, PayPro is continuously pushing education institutes to create awareness, and encourage their customers to use digital modes of payment in order to avoid default while providing impeccable customer service.

The State Bank of Pakistan (SBP) has given clear directions to shift the nation’s economy towards a digital and cashless ecosystem, and enterprises demonstrating proactive involvement will have the following positive externalities for their business.

Convenience for customers

PayPro allows customers to make payments from the comfort of their homes without depending on banking hours through a wide range of digital payment options (bank transfers, debit/credit cards, ATMs or over the counter at our collections points).

Lower carbon footprint

Go green! Go paperless! and save trees. By presenting invoices through Email & SMS, schools can not only save the effort and cost of printing and delivering invoices but also reduce the chances of having students or parents misplace their fee vouchers.

Automated reconciliation

Education institutes should take full advantage of real time and automated reconciliation, reduce overheads and minimize the possibility of delays and human error caused as a result of manual operations.

Control over business

Schools can manage, record and track payments with ease, get notifications in real time with faster settlement of receivables. Automated payment reminders and push notifications through digital mediums ensure regular top of mind recall.

Always in touch

Improve overall customer satisfaction by providing them the facility of PayPro’s 24/7 customer service helpline strengthening your business credibility.

PayPro is working continuously to digitize the business operations for schools and education institutes. Automated reconciliation and digital payment collection help institutions drive efficiency and improve the overall brand experience for students and parents. The transition to modern digital payment mechanism can be managed systematically to reduce implementation risk, and PayPro specializes in delivering full support and the resources required by institutions to update their billing data while training the staff to operate its user-friendly dashboard.

PayPro is transforming business operations for the education sector, facilitating more than 150 schools across Pakistan to bill and collect school fees through digital payments. Haque Academy, one of Karachi’s reputed primary schools has successfully converted 98% collection of school fees to digital modes of payment.

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