Digital transformation is a key topic of discussion with educational institutions since the onset of the pandemic and the idea of a completely cashless campus is a concept that higher education institutions need to consider more seriously as COVID-19 persists. Cash as a form of payment is now considered a rarity and students have adopted digital alternatives for making payments as their new normal.
Institutions need to be able to react and adopt to these trends in order to protect attrition rates, as well as creating payment processing efficiencies and finding new ways to manage costs. Creating a digital campus promotes health and safety among staff and students while providing institutions with rich and full data for the first time.
In response to these new shifts and demands in the category, PayMyTuition has developed fully digital campus eStore capabilities that will allow institutions to sell campus goods and services within a single self-service web application online. This solution will allow institutions to have a seamless and contactless way to sell physical and digital goods and services to students, staff, alumni, parents, and visitors along with providing the school with innovative features like shopping cart functionality and inventory management.
A fully customizable digital storefront offering
PayMyTuition’s eStore solution will enable online campus sales, ticket purchases, event registrations, membership sign up and fee payments, donations, parking passes, campus merchandise, payment of library fines, and much more. Institutions will now be able to create, manage, and operate digital storefronts while at the same time, integrate a fully secure and innovative payment offering featuring:
1. Customized individual storefronts with unique features
2. Unlimited storefront capacity
3. A flexible product database
4. An integrated inventory management system
5. Ability for both digital and in-person payments
6. Single cart and checkout for purchases across multiple stores
7. Ability to set up one time or reoccurring payments
8. Donation solution capabilities
9. Ability to set up custom store promotions, codes and vouchers, and student discounts
10. Integrated shipping functionality
11. Direct integration into student information and campus finance systems at both a store and product level
Direct campus finance and Student Information System (SIS) integration
This digital eStore solution will enable institutions to mange their campus payments more efficiently with direct integration into institutions campus finance and student information systems (SIS) for the first time. With integrated automation, by way of a real-time API, any manual intervention, data uploading or traditional account reconciliation by school staff is eliminated allowing schools to manage their payments seamlessly and efficiently.
Institutions can now feed transactions directly into their student information systems (SIS) and assign GL accounts to individual stores. This solution allows schools to mobilize their POS while being able to accept secure payments anywhere on or off campus.
This innovative store experience will also allow students to shop simply and easily online by way of various local and international payment options including credit cards, ACH payments, open banking payments and various e-wallets while enabling foreign payment capabilities across 180 countries in 135+ different currencies.
This solution offers institutions customization and flexibility within its innovative technology infrastructure, allowing for the offering to be fully unique and speak to the needs of each college or university individually. This solution is seamlessly integrated into institutions student information systems (SIS) by way of a direct containerized install allowing them to have this offering fully operational in only a matter of days.
At PayMyTuition we solve the complex challenges that educational institutions experience with traditional ways of processing student payments with our innovative, next-generation solutions. To learn more about PayMyTuition’s innovative eStore solution contact a member of our team to find out how we can remove the friction within your international and domestic student payments business while saving staff resources and eliminating costs.