Is your school ready for cashless payments?
Following the demonetisation of 500 and 1000 Rupee notes, all CBSE schools have been told to collect fees online or through other cashless modes from January 2017. The government believes that this move sowed the seed of what may get to be called a new era - the cashless India Movement. Card payments and e-wallets are becoming the norm, but the question is can schools in India, a predominantly cash-run system, adjust to this major change? Is it even possible to go completely cashless?
If your school has the right technology and your staffs, students and parents know well how to use it, promoting a cashless culture is easier. Below are the most common questions that every school should ask themselves before implementing a cashless system.
1. Is your school safe from cyber threats? Are your schools' payments 100% secure?Changing banking passwords, advising users to change debit card pins would help to a certain extend in reducing risk of cyber threats. Downloading unverified apps and software can compromise security. Parents and staffs should be encouraged to download apps from a trusted source. The Digital payment solutions provider, you chose must adhere to industry standards in order to ensure standardized security. Encrypting, tokenizing and authenticated transactions are further steps you can take to improve security.
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2. Why your school’s digital infrastructure is important?
Many schools in India lacks infrastructure, particularly the schools in rural areas, which might be the biggest setback for a cashless system. Access to advanced banking facilities and digital accounts has not reached many schools. A cashless system needs a strong online system to function. High speed internet access and knowledge about the technology is vital for the same. Losing internet connection during transactions, cheating by hackers are the most common fears. On the other hand, some schools have the most brilliant infrastructure but they have limited knowledge about the system. In such cases digital payments become non-operational due to lack of literacy and awareness among parents and staffs about the available facilities. CBSE wants schools to interact with parents during the Parents Teachers' Meeting (PTMs) to make them aware of how to engage in cashless transactions. Schools are also advised to organise seminars and training to help students and their parents cultivate the habit of making payments online.
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3. Do you use a software to manage your school digitally?
To facilitate cashless payments alongside your daily operations that are as simple as student registration to complex exam and marks management, you need a fully integrated and centralised solution. This helps administrators and teachers to collect information needed to manage education delivery, improve student achievement, and ensure accountability. Rather than you spending minutes and hours to track the details of fees payments, let the system collate and automate the records for you and you could focus on improving students’ outcomes. You can also save on your printing costs by producing digital receipts in the form of SMS and emails. So, before taking the step towards a fully operational cashless system, ensure that you have an integrated school management system in place that works seamlessly with your school’s digital infrastructure.
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