This launch will help educational institutions to validate student banking information and account balance status in real time.
PayMyTuition's Open Banking solution for international payment plans utilises a financial data API so that both student data and funds availability will be rapidly authenticated for schools. Combined with biometric verification technologies, institutions will have the tools for payment processing security, identity authorisation, and fraud protection.
The payment plan solution will offer financial institutions instant account authentication. Institutions can now verify students' identities, instantly matching payments to student accounts.
This solution also provides students the ability to create personalised payment scheduling for course registration due dates, tuition fee deadlines, and monthly ongoing expenses, giving students the ability to set up automatic payment withdrawals within their student portal.
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