- New service will permit students to use one of many payment options, including everything from major e-wallets to traditional direct debit
- The aim of the new service is to reduce the number of social interactions involved in making tuition fee payments
- “We wanted to assist Canadian institutions by enabling them to offer a safer alternative for domestic student tuition and fee payments", said a spokesperson for the firm’s parent company
Students in Canada affected by the ongoing coronavirus pandemic will soon be able to benefit from a new service designed to settle tuition fee bills offered by a cross border payments firm.
The firm PayMyTuition has announced that it will provide a domestic payment service to students all across the major North American country.
The service, which is a technological solution designed specifically for the coronavirus pandemic, will allow students to settle fees without having to be there in person.
This allows all participants to continue to adhere to social distancing guidelines.
According to a press release from PayMyTuition, a range of Canada-based payment methods will be accepted as part of the service.
These will include email money transfers as well as direct debit.
Credit cards will also be accepted, as will e-wallets such as PayPal – and a range of other methods too.
The service also allows funds to be matched to student files on an automated basis, which aids administrative staff at the other end of the transaction who need to reconcile incoming cash with the right record.
From there the funds are then assigned to individual student accounts using an integrated application programming interface (API) developed by PayMyTuition.
The API can be integrated with a whole host of student record-keeping software packages, the firm said.
These include everything from Colleague to Banner and Jenzabar to PeopleSoft.
According to Arif Harji, who serves as the chief market strategist at MTFX Group (which is the owner of PayMyTuition), the firm “wanted to assist” institutions which have been hit by pressure caused by the pandemic.
"We are in uncertain times and the impact of COVID-19 has put a lot of pressure on educational institutions across Canada”, he said.
“We wanted to assist Canadian institutions by enabling them to offer a safer alternative for domestic student tuition and fee payments", he added.
He went on to explain that the service will be “more affordable” for students too.
”We have developed a digital, contactless and more affordable payment alternative for domestic students allowing them to make payments in the comfort of their home versus travelling to an institution to pay face-to-face”, he said.
The firm said that it had already secured relationships with a number of higher education institutions in Canada.
Its goal for the next month or so, it said, was to provide an increasing number of institutions with the ability to access the service.
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