The Untapped benefits of E-payment

The purpose of  an e-payment system is to foster easier payment processes of school fees and other financial related processes for parents/guardians, reducing the amount of physical cash and cheques that has to be sent to the school. 

Transaction is not complete until cash is first pulled out from the bank, which takes some time.

The aim of e-payment therefore is to reduce manual transactions to the barest minimum as dealing with cash is more time consuming and takes up most of the time that should be used for more important things.

According to Yemi Atanda- Catalyst 2017, cash payment is an exploitative king. It is highly expensive and inefficient. 

On the other hand, using e-payments reduces risks and improves the experience of both teachers and parents. It can also be achieved with limited cost and effort. This implies that one can easily complete a simple transaction using just a phone. 

In addition, it reduces paper forms for data collection from students and parents and also makes interaction between the school, staff and parents a lot easier.

There will be so much more to learn at this year’s Catalyst edition.

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