PayMyTuition launches eBill and eStatement solutions

Friday 15 April 2022 11:14 CET | News

PayMyTuition, a US-based provider of payment processing solutions for tuition management and campus commerce, has launched an eBill and eStatement solution incorporating Open Banking and Request to Pay technologies.

This launch will equip colleges and universities with a new contactless way to produce and process bills and statements so that payments can be applied faster, safely, and more securely for their student community, while at the same time, prioritising the savings of institutions' time and money.

PayMyTuition's solution for eBill and eStatements with Request to Pay functionality will provide efficiencies for educational institutions, allowing for better payments tracking and data transparency, eliminating student data gaps and instances of failed or delayed payments due to missing information, while at the same time, eliminating any need for manual intervention of payment matching for incoming payments from financial services staff.

This solution powered by Open Banking technologies will enable institutions to instantly notify and send payment requests to students, by way of email and SMS alerts, of any upcoming bills while simultaneously providing students the ability to create personalised payment scheduling for course registration due dates, tuition fee deadlines, and monthly ongoing expenses directly within their student account. Students can set up automatic payment withdrawals to keep them on track with payment commitments and remove any additional fees that would arise from late payments. All student statements and information are automatically stored and updated in real-time within their student account to be accessed by the student or the school anytime.

PayMyTuition's eBill and eStatement solution is compatible with most student information systems (SIS) including ellucian Banner, ellucian Colleague, PeopleSoft, Oracle, and SAP among others, and provides integration through a financial API directly into institutions SIS. 

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Keywords: Open Banking, product launch, Request to Pay, payments , contactless payments
Categories: Banking & Fintech
Companies: PayMyTuition
Countries: United States
This article is part of category

Banking & Fintech


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