Digitizing the entire student experience through eMarketplaces and eStores

Digitizing the entire student experience through eMarketplaces and eStores

INSIGHTS

Digitizing the entire student experience through eMarketplaces and eStores

Digital transformation is a key topic of discussion with educational institutions since the onset of the pandemic and the idea of a completely cashless campus is a concept that higher education institutions need to consider more seriously as COVID-19 persists. Cash as a form of payment is now considered a rarity and students have adopted digital alternatives for making payments as their new normal.

Institutions need to be able to react and adopt to these trends in order to protect attrition rates, as well as creating payment processing efficiencies and finding new ways to manage costs. Creating a digital campus promotes health and safety among staff and students while providing institutions with rich and full data for the first time.

Introducing PayMyTuition’s next-generation eMarketplace and eStore campus solution

In response to these new shifts and demands in the category, PayMyTuition has developed a fully digital campus eMarketplace and eStore that will allow institutions to sell campus goods and services within a single self-service web application online. This solution will allow institutions to have a seamless and contactless way to sell physical and digital goods and services to students, staff, alumni, parents, and visitors along with providing the school with innovative features like shopping cart functionality and inventory management.

A fully customizable digital storefront offering

PayMyTuition’s eMarketplace and eStore solution will enable online campus sales, ticket purchases, event registrations, membership sign up and fee payments, donations, parking passes, campus merchandise, payment of library fines, and much more. Institutions will now be able to create, manage, and operate digital storefronts while at the same time, integrate a fully secure and innovative payment offering featuring:

  • Customized individual storefronts with unique features
  • Unlimited storefront capacity
  • A flexible product database
  • An integrated inventory management system
  • Ability for both digital and in-person payments
  • Single cart and checkout for purchases across multiple stores
  • Ability to set up one time or reoccurring payments
  • Donation solution capabilities
  • Ability to set up custom store promotions, codes and vouchers, and student discounts
  • Integrated shipping functionality
  • Direct integration into student information and campus finance systems at both a store and product level

Direct campus finance and Student Information System (SIS) integration

This digital eMarketplace and eStore solution will enable institutions to mange their campus payments and inventory more efficiently with direct integration into institutions campus finance systems and student information systems (SIS) for the first time. With integrated automation, by way of a real-time API, any manual intervention, data uploading or traditional account reconciliation by school staff is eliminated allowing schools to manage their payments seamlessly and efficiently.

Institutions can now feed transactions directly into their ERP finance system and assign codes to individual stores, products, or sites. This solution allows schools to mobilize their POS while being able to accept secure payments anywhere on or off campus.

This innovative store experience will also allow students to shop simply and easily online through various local and international payment options including pre-authorized debits, EFT’s, wires, credit cards, and payments through various e-wallets while enabling foreign payment capabilities across 180 countries in 135+ different currencies.

This solution offers institutions customization and flexibility within its innovative technology infrastructure, allowing for the offering to be fully unique and speak to the needs of each college or university individually. The direct containerized install of this solution into institutions SIS is a fast and seamless processes allowing them to have this offering fully operational in a matter of days.

In conclusion

At PayMyTuition we solve the complex challenges that educational institutions experience with traditional ways of processing student payments with our innovative, next-generation solutions. To learn more about PayMyTuition’s innovative eMarketplace and eStore solution contact a member of our team to find out how we can remove the friction within your international and domestic student payments business while saving staff resources and eliminating costs.