How UPI Payments are Dominating the Online Fee Payments Game

MCB provides schools with the fastest and easiest way to collect fees, disburse expenses, and other payments.

We bring to you a tailored payment infrastructure for your school’s growing needs. UPI is designed to be a highly beneficial way to pay online and make all other school-related payments. When compared to other payment modes, UPI checkout flows reduce the friction for parents and schools and makes online payments hasslefree. This implies higher transaction success rate and cash flow at a faster pace. There have emerged many ways to offer UPI as a payment option suited for diverse fee payments and platforms. Banks, UPI payment gateways and UPI apps provide integration kits for schools to start collecting UPI payments effortlessly. Banks, being directly connected to NPCI, provide the UPI SDK that transforms the platform into a UPI app. The primary advantage is that there is no redirection to a third-party app. It is ideally used exclusively for organisations with UPI transactions and those who suppose a very high volume of payments. A good example would be UPI payment apps themselves like PayTm, Google Pay and PhonePe.

Quick Highlights of UPI Payment Gateways

    • Quick and hasslefree integration
    • Multiple integration options for web and mobile
    • Higher success rates due to routing between multiple banks*
    • Automatic reconciliation of pending and failed transactions*
    • Better operational support, and quick troubleshooting over email and chat
    • Detailed MIS, reporting and user-friendly dashboard
  Educators today are actively choosing Online Fee Management System for their UPI Payments feature. Schools could consider implementing the fee management system for several benefits that it offers. Irrespective of a school’s size, espousing this efficient fee solution is not only feasible but also a smart choice for financial longevity. Greater revenue inflow as there are no extra expenses with improved accuracy. Fee Management Software is beneficial to ease the process of fee collection for schools and for parents to track fee due and fee paid in real-time. The hassle of manually recording and calculating fee collected in huge records or papers goes right out of the picture. Once this software is successfully deployed, users can integrate it with various modules such as Expenses, Admission, Hostel, Canteen, Transportation, Library management and more. This results in enhanced efficiency with greater data synchronization for fee collections. Student’s fee data can be accessed right on your smart devices, anytime and anywhere. Let’s discuss a few of the many benefits of implementing automated fee management software in schools:

Intuitive and User-friendly

Now collect fees following just a few simple steps. Fee management system offers users easy-to-understand dashboard navigation to collect fees and pay fees online for accountants and parents respectively, enabling fee collection in a paper-free environment.

Secure Database

Fee automation management system is highly secure with restricted role-based access control across a multi-user environment, leaving little to no scope for discrepancies.

Generate Fees Reports Instantly

The fees management software helps in generating various types of fees reports such as registration fee, term fee, semester fee, tuition fee, transport fee, miscellaneous fees and more. You can also track students with outstanding fees and send follow-up SMS and emails.

Real-Time Notifications

Students and parents will be notified on fee payments with instant and scheduled reminders, notifications, messages, SMS alerts and emails.

Customise to Needs

Personalise fee structures/plans based on requirements with the capability to define concessions, edit or add fees, and collect penalties with ease.

Seamless Transactions

Irrespective of the fee payment mode, the transaction is done with full transparency and the system will seamlessly record, track and bring any suspicious transactions to immediate notice.

Comprehensive Account Management

Maintain students’ profile secure including demographic information and parents’ data. Accountants will have an easy time tracking payments for admission, hostel, canteen, tuition, transport, library, and more. Ergo, implementing a fee management system for your school is the next practical step that has to be taken, to enhance fee collections and boost school revenue.
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