School payment solutions
Fall is here—one of the busiest times of the year in education. There’s a lot going on to get your school, staff and students ready. It’s a good time to evaluable your school payment solution and ensure you have a secure way to handle payments for all aspects of your school from school lunches to events and fundraising activities.
Make sure your systems are secure
When you accept debit card, credit card and mobile payments, you have a big responsibility. First and foremost is your duty to protect the sensitive card data your students, parents and supporters entrust you with. Making sure your educational payment systems are secure is key to accomplishing this.
One effective way to secure your systems is to implement tokenization. Tokenization is a process in which a “token” replaces actual card data in payment systems. If a fraudster steals the payment data that has been tokenized, it will be useless to them. Having tokenization in place for your school's credit card processing system can help protect your students’ and parents’ card data and greatly reduce your institution’s chance of fraudulent attack.
Recurring payments help to keep your books current
Setting up a recurring payments engine is a great way to handle regular payments at your school, such as school lunches and tuition and sports fees. Instead of having to manually bill the same payment method (e.g., credit card, debit card or checking account) each week or month for the same transaction amount, a recurring payments engine debits the payment account on your school’s behalf. This process eliminates the hassle and expense of printing and mailing paper bills, as well as the lag time of depositing paper checks or cash.
Wide variety of options for education payments processing
There are many options when it comes to payments partners in education—both for K-12 and at the higher education level. It can be a tough decision to choose the right hardware and software, so be sure to ask your payment processing provider for their recommendations. Some things to keep in mind are the types of payments you most frequently accept, what kind or reporting you need, security options for recurring payments, and flexibility to upgrade to new solutions when needed.
Accepting electronic payments for school lunches and other regular school expenses can help your school have a more regular revenue stream, streamline accounting, and keep parents happy with additional payment options. Beat the back-to-school rush and implement secure payments processing for your K-12 school, college or university today.