Go Digital, Go Cashless: Integrating Online Payment Technology with School System

The toughness in tackling demonetization can be closely associated with the frustration of our common independence. There is no argument regarding the backlashes brought by demonetization to a less prepared society. However, apart from the underprivileged people of our country we all have a route to reinstate our freedom through the digital world.

Why we are backing from an opportunity to go cashless, when we have resources to solve it? Is going cashless that much bounded for even the educated people? When we compare the cashless of our country with other, it reflects the dejection of our current status. Only 6% of our transactions are cashless, when others do it above a 70%.

So now let us move into the core part of discussion:

How demonetization affected our Educational sector?

With demonetization, it is better to accept, no sector in India is exempted from its effect. So the educational sector does carry the pressure of it. Anyhow the demand for cashless economy has given a great reason for CBSE schools to go digital. From January onward they will stop accepting the fees collection in the mode of cash and thus receiving as e-payments alone. Apart from fee collection, even the salaries will not be encouraged in cash. This will totally change the economy and thus working towards the progression of digital India concept.

The rise of technology

So with the compulsion in the cashless transaction, the right way to move forward is to program the environment according to that. In schools the integration of software for different functionalities, has become so common thus fostering the technological availability. To be more specific, let us check some of the key functionalities that must be mandatorily integrated with the existing system, for taming the current difficulties.

Making the Online Transaction Mandatory

In a school management system, integrating the functionality has a greater level of acceptance, because of the improved convenience. Many integrations like SMS facilities, bio-metric identification, class report access etc. has done in the most convenient way. Now the time demands “online payment facility”. It is a too much pleasing response from the side of the parent as the convenience with online payment is credible. First of all the effort of visiting the school is reduced and online transaction saves your valuable time with minimizing the older procedure of fee payment. It encourages the transparency in money flow, which was too much complicated earlier. Apart from these, it works as a relief for the current shortage of cash flow.

On the other side, there are still institutions in the remote areas that cannot afford or accustom their work system to software. For them, online payment system is a distant solution. Anyhow, such institution has directed the parents to initiate the transaction via the bank account. But the difficulty of the process cannot be solved with that.

Customizing the Fee Payment Facility

The fee collection procedure varies according to institutions. It can be done on monthly, quarterly or yearly basis. Apart from the regular fees, other payments must also be collected and managing the records of those also is a must. The transportation fees, boarding fees, stationary fees belongs to such category and vary from student to student. In fact, the task of managing such records is totally sophisticated, as it continues with modification instruction from management and request for adjustment from the parents. In addition to that with a scenario like cashless society, the demand for configurable school system has become an indispensable requirement.

The alarm for cashless society has made CBSE schools, to go online and thus walking its way to a much better economic system. We know that confusion may persist in the beginning when authorities demand to initiate the school payments to be made online. But at the same time the convenience for making every transaction in record is an advantage and proof to the authenticity of the organization. It will close the loop holes for corruption in the education system as well. And CBSE schools have started its effort by configuring the software for enabling online transaction. In every respect integrating the digital convenience to our economic transaction will have more positive effects on long term, irrespective of the current difficulties.