Why do we need Online Payment Gateway?
Time has changed with the technology advancement. We are accustomed to getting our work done quickly without any error. No one would want to wait in long queues when the work can be done digitally within a few minutes. Digital transactions are everywhere now. It has seeped into the smallest of businesses.
Gone are the days when people used to have their pockets and wallets filled with cash. Gone are the days where we needed to be physically present or wait in long queues to make payments. Online payments have become a part of our daily lives. We don’t even need to have a computer for such payments; a smartphone with an internet connection is enough. It is quick and convenient. If you run an educational institute then why not tap into the power of smartphones with the help of Membroz and make all operations simpler.
An Online Payment Gateway is software that connects your bank account to where you need to transfer money. It is a middleman in handling and transfer of money from one account to another. How does it work? It focuses on the security and encryption of sensitive information like the card and the bank details provided by the user.
For example, when we pay for the tickets at the movie booking app, the money doesn’t go to the app directly. The information about the card being used by us is directed to the payment gateway. It then checks and sends the information to our bank through shielded ink. Our bank then checks if we have sufficient balance to carry out the transaction. Accordingly, the bank settles the money with the payment gateway and it is then transferred to the respective receiver account after some hours.
Payment Gateways by Membroz
More and more people stick to online payments. Membroz is now providing Payment Gateway Integration for Preschool, Kindergarten, Care Centers, Nursery Schools, and Educational Institutes. We focus on making fee collection easy without any human computational error. With this system, the customer won’t need to be physically present while making the transaction. The information provided by the customers is secured and the safety of the records. The most significant advantage of Payment Gateway is that it allows millions of users to use it at the same time. How is your institute going to benefit from this? Let’s find out.
Benefits of Payment Gateway
1. Time Saving Process:
Schools traditionally used to accept fees in the form of cash, demand drafts, or cheques. One has to wait in long queues, this is time-consuming for both the parents as well as the staff. Payment Gateways helps one to make online payments from anywhere and at any time with a proper fee receipt generated on the spot. This process saves time as well as allows smooth functioning of cash flow.
2. From any part of the World:
The payer doesn’t need to have a computer; a smartphone with a decent internet connection and a card or a bank that has a sufficient balance to carry out the payment. The payment can be done from any part of the world. National and international transactions are accepted without any hassle or queue as long as the student uses one of the compatible payment methods listed on the gateway page.
3. Quick and detailed reports of transactions:
The institutes do not need storage rooms to document all the hard copies and receipts. They can see the fees collected or failed transactions on the same day, the week or month before, and also for a particular date or a student. This makes it very convenient at times when the data is required on an immediate basis. All the data is stored on our secure servers which can be accessed any time by a person with rights.
4. Service without any break and no specific Payment Mode:
Parents/Students usually had to pay the fees as per the working hours of the school office. With Payment Gateways, payments can be done at any time. There are no working hours i.e. the services are available 24*7. There is no restriction on the payment modes as well. Credit cards, debit cards, Unified Payment Interface (UPI), Net Banking, and any other modes can be used to make the payments from the vast majority of options available at Membroz.
5. Cash Counting and Auditing:
Since everything’s digital, there is no need to waste your precious time counting cash or auditing your financial books when you can think of ideas to make your institution better in other departments. All payment received is sent straight to the bank and auditing becomes a breeze as you quickly and easily find where you’ve been short paid and where your expenses are at.
6. Communication is the key:
Once the payment is cleared, the payee is notified regarding the same by a fee receipt through an email or SMS. With Membroz you can set what automated reply is sent to a customer. As you can notify them about the fee structure and the fee payment dates. In this way, there are proper communication and fewer chances of missing the payment dates.
Membroz provides this service to make it easy for the payer and the payee. Our default Payment Gateway is PayU with support for PayTM, Stripe, and RazorPay as well. We’re working on adding more gateways to our repertoire. Many educational institutes have already started to avail of these services. Do you think you’re sold on the idea of payment gateways and want to join us now? Making fee collection simple is just the tip of the iceberg when it comes to Membroz.
While payment gateways are a must for any educational institute, Membroz does a lot more than just that. It also acts as your Customer relations software, Human resource software, Finance Management Software, Analysis software, Data Management Software, and more all morphed into one.
Once you invest and choose Membroz you get all these enhancements to go with it. Why pay for six different software when you can get them all for the price of one. Also, did we tell you how user-friendly and easy-to-use Membroz is? You can also make accounts for each individual student and broadcast messages across to everyone at the same time.
Contact Membroz to know more and be a part of our efficient ecosystem.