KOCHI: Parents will no longer have to stand in queues to pay children's school fee as schools in the state are increasingly adopting enFee, a fee collection platform with inbuilt payment gateway developed by Planet Fee Pvt. Ltd. for educational institutions, to make fee payment easier.
At present 45 schools in the state, including three of the largest schools in Kochi, Bhavans, Toc-H and Al-Ameen have been using this platform that handles the fees of over 35000 students. Almost 30-40% of parents of most schools have switched over to enFee upon its introduction.
The platform enables parents to pay fee online by logging in from mobile phonesor laptops as fee data of the schools are available online. However, a parent will get fee information of only his child when logged in. The parents will receive SMS with a unique link prior to the due date and they can directly access on browser and pay the fee instantly. It also allows offline cash collection as the data is available in a centralized system.
"The collection of cash and cheques through multiple payment channels is a problem for the schools, colleges and universities as follow-ups are needed. The school software providers are not equipped to provide financial services or take responsibility for fee payments. Moreover, the institution has to sign up with a separate payment gateway, open separate settlement accounts, sign tri-party agreements and incur maintenance costs to start accepting payments online. If it's a small school, the setup costs are not reasonable," said Vivek Prasannan, CEO, Planet Fee Pvt. Ltd.
"We also have partnered with the largest private sector bank in Kerala to provide fee payment solutions to schools and colleges. We have received great response from schools, parents and the banks. Schools get less accounting headaches, parents can pay fees while travelling and banks get less footfall and more money in their kitty with less effort. It is a win-win for all," added Prasannan.
What inspired him to start the platform and he said that last year he found it difficult to pay his son's school fee on time due to work commitments. "I found that most of the leading schools in the state didn't have a user friendly way to accept fee. Our desire to find a solution for the issue led to the development of enFee," he added.
What inspired him to start the platform and he said that last year he found it difficult to pay his son's school fee on time due to work commitments. "I found that most of the leading schools in the state didn't have a user friendly way to accept fee. Our desire to find a solution for the issue led to the development of enFee," he added.
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