Impact of COVID19 in the Fees collection process, & how PayMyFee can help everyone overcome the crisis
Amidst the COVID19 pandemic, the whole world is experiencing a slowdown. The government is trying to implement new strategies to reopen the services and also prevent the outbreak of the coronavirus. This lockdown has taken a toll on the educational system of our country as well.
Educational institutes and schools are closed, exams have been withdrawn and fee collection system has been badly disturbed. Salaries of teaching and non-teaching staff of schools and colleges have been withheld. When the whole world is suffering, we must support the hardworking teaching staff as most of them rely on their salaries for everyday needs.
The best way to handle the fee collection system of institutions right now is by choosing online fees collection software. PayMyFee is an online fee payment portal that provides a one-stop solution to all your online fee payment and management problems.
PayMyFree offers a user-friendly interface to collect fees online from students. PayMyFee not only caters to the need of students and parents but also institutions as well. This online fee collection software works as an easy combination of fee management software and online fee payment gateway by which students can pay fees online and institutions can collect fees online from students.
Here’s how PayMyFee can help you with online fees collection and payment during COVID19:
- Long queues are gone
Parents or students can save themselves from long queues and waiting time for fee submission. Instantly pay your fees online by logging into your account and save yourself from outdoor infected environment. Not only this, but PayMyFee also enables you to track all your past transactions and help in keeping a record of your online fees payment.
- Reduce manpower – save money
PayMyFee helps institutions in saving money by reducing manpower costs and by automating the fee collection process. This online fee collection software gives you a clear and real-time report of the entire online fee submission in just a click.
- Gets alerts and notifications
PayMyFee sends regular updates and notifications to students or parents about the due fee. This will save you from delayed fee payment fine. PayMyFee also allows you to download and keep payment receipts anywhere at any time. So, no more worries about losing receipts and keeping proof of online fee submission.
- Wide range of payment options
Online fee payment is easier when you have a handful of payment options. PayMyFee provides you a wide range of payment options like internet banking, credit & debit cards, mobile wallets, and UPI. Pay school fees online at your convenience from your home.
- Effective handling of school accounts
PayMyFee allows institutions in efficient and effective handling of school accounts and student information like records of transactions, payment history, and all related data. Besides handling general school accounts and information, the salaries of the teachers can also be checked and tracked anytime.
- Safe and secured payments
PayMyFee proves safe for both students and institutions. This online fee portal is staged in a 256-bit SSL secured environment, with encrypted to-and-fro data. Apart from this, all students have their log in ids and can be accessed with OTP only. The OTP system is also valid for the admin page of institutions, so only trusted people can log into the school's data. Lastly, the Captcha encoded system avoids automated logins via bots & scripts.
Frequently Asked Questions
Here's what you need to know about PayMyFee, based on the questions we get asked the most.
We follow a 'T + 2' settlement cycle, meaning the payment will be settled into your bank account in 2 working days from the successful transaction date. This is the same bank account details of which were provided in your KYC documents.
Generally an identity proof with photograph and an address proof are the two basic mandatory KYC documents that are required to establish one's identity.
For KYC, one needs to upload copies of PAN Card, Aadhar Card & a Cancelled Cheque (without signature).
The objective of KYC guidelines is to prevent businesses from being used by criminal elements for money laundering activities. It also enables businesses to understand their customers, their financial dealings so as to serve them better and manage its risks prudently.
For KYC, one needs to upload copies of PAN Card, Aadhar Card & a Cancelled Cheque (without signature). If someone does not upload the KYC documents, settlements to the partner Institute will not happen & shall be withheld. To start settlements to your bank account, we need your bank account details & your PAN details.
Students can be added one-by-one or imported from an Excel file. Format of the Excel file can be found in the panel itself.
Unlimited. There is no limit on the number of students you can add or import.
Students will receive an SMS with their login details on their mobile phones immediately after their account is created in the system - either when you import student details in to the system or when you create their account individually.
Unlimited. There is no limit on the number of Courses, Programs or Batches you can create.
No. You can copy the fees structure & rename it as per your needs. You can also modify, add or remove fee heads if needed in the copied fees structure.
PayMyFee supports & accepts payments from all major Credit & Debit Cards (VISA, MasterCard, RuPay, AMEX, Diners), Internet Banking (All major Indian Banks), Mobile Wallets (Paytm, Mobikwik, JioMoney, etc.), UPI & Prepaid Cards. PayMyFee also supports acceptance of International payments.
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