Why online fees collection is the best for your Educational Institution

The education industry today has branched out into various forms, modes, and sources. These can be mainly divided into online and offline. Due to the corona impact, offline education has been limited; and stops when the spread of the virus increases. Thus, the online education system is favored and adopted by many. The online fees collection system has been highly advantageous may it be any mode. However, the online fees collection system has been highly advantageous may it be any mode.

Due to the onset of the pandemic, online payment modes are very much preferred and adopted by the people. With time, they have known that online payments are more convenient than cash mode. For this reason, may it be the online classes or the offline ones, the parents want to make the fee payments through their preferred mode of online payment.

To continue with the benefits, this blog discusses the importance of accepting online fee payments for your Education institute.

The reasons why online fees collection is the best for your Educational Institution

Online Fees Collection system is adopted by the educational institutes as it lowers the manual efforts, administration work, paperwork, and saves a lot of time and mistakes. Not only these but it can also help to collect timely payments from the students. Below listed points give out other essential causes to adopt the online fee payment system:

Safety and security

The online fees collection mode provides safety and security due to its total digital process. It saves from the thefts and errors that can take place. The fees are directly settled in the bank account and even recorded digitally. The whole online process also becomes safe and secure due to the security compliances followed by the payment service providers. For example, PayKun is PCI DSS complied, SSL certified, and follows the encryption standards. This is the highest level of security compliance for a payment processing company to follow.

Records and Reports

Timely payment acceptance and timely tracking of those payments are significant to maintain the proper administration at your educational institute. The transactions will be automatically recorded. PayKun merchant dashboard provides such transaction details, downloadable reports, payment link section, student-wise data, etc.

Smooth payment process

The smooth transaction process tops the security. When you accept the payments online with an ideal payment service provider it ensures a smooth checkout process and thus a great customer experience. The smooth checkout process includes the availability of the payment methods, success rates, security, etc. The students or the parents need not visit physically and stand in the queues, they can directly make the payment through online means with their selected payment option. PayKun provides 120+ payment method options including credit card, debit card, UPI, wallet, net banking, QR code, etc.

Periodic fee payment collection

There can be monthly, yearly, quarterly, or any other periodic fees. The students can make the payment as per that – with convenience and security. It can be easily integrated into the education platform or timely payment links can be sent.

Safe and Easy Online Fees Collection Methods with PayKun

What is the best way to accept payments online as well as offline for your education platform? Summing up the above points, the answer is easy. A payment gateway.

PayKun payment gateway is the most suitable way for both offline as well as the online education system. The definition of the ‘normal’ has changed with the onset of the pandemic and this includes ‘cash’ as the payment form. So, you need to arrange an online fees collection means for your offline classes too. A payment gateway can be quite useful in that.

To accept the payments online you can integrate PayKun with your education website or mobile application, add the payment button or use its payment links.

PayKun Integration: Using the ready plugins you can easily integrate and enable a smooth checkout process for your customers on your educational website or app.

PayKun Payment Button: Generally this is the best method to use a payment gateway and that is to add a payment button. With PayKun, it is very easy to add a payment button to your education website.

PayKun Payment Link: In case you do not use an education website or app currently then you can use PayKun Payment Links. You can collect online fee payments through email, SMS, or Whatsapp with these payment links.

Conclusion

Thus, online fees collection is the most useful way to provide convenience and security to your students and parents. It is also essentially advantageous for educational institutions. PayKun has the best and the smoothest solutions as can be clearly seen from the above points.

Getting the PayKun merchant account for your business platform is easy. The onboarding and activation process takes no time. The settlements of your fee payments are done in a timely manner as per your settlement cycle. It charges the lowest per-transaction fees (TDR) in India and there are no other fees. It has excellent support services and also they provide free technical assistance.