How does online fees payment help the students and their parents?
Are you a guardian or a student pursuing your studies? Are you concerned about the submission of the fees? All right, no need to worry about it, as you are in the impeccable place, where you will get to know about the latest procedure of submission of the fees, without being physically present in school or college.
Manual fee collection is a tedious process, and that is why online fee submission has become a popular one nowadays. As the fee structure of every class varies from one another, using the manual procedure is really cumbersome work.
In this context, PayMyFee allows your esteemed institution to collect the fees from online either from the students or from the guardians. With the aid of online fees software, PayMyFee is ready to give you top-notch service that supports a wide range of payment options comprising of UPI payment and major bank payments.
PayMyFee indulges you to save your precious time and make the payment of college fees and payment of school fees online by knowing the benefits of online fees payment.
- Integrated Digital Payment
As technology is considered a boon, you don’t have to stand in a long queue and waiting for your turn. Any particular educational institution can maintain a digital format by which the online fess collection system can be done, that too in a paperless system. By doing this, the hue and cry of the long queue and be reduced, and on the other hand, being paperless system it can be considered as eco-friendly. - Less Late Fees
By any means, if the fees due date ha been over, then it is very much frustrating that what could be the administrator thinks of. In turn, the administrator sends a couple of reminders to guardians/students regarding the payment clearance.
To avoid that, a simple payment process has been followed. The whole statement of payment clearance is given on an e-mail that has a direct link to the payment portal. After that, with the aid of fee management software, payment can be done after adding the bak and other details. In some time, it reflects on the organization’s bank account. - Automatic Calculation
Without any erroneous calculation, fee management software calculates the monthly fees including library fees, hostel fees, electric charge, and other relevant charges and produces it all in a single bill. - Secure Way to Pay
If you are a guardian and you are going to clear your son/daughter fees via online payment mode. Suddenly, a question stuck on your mind, is it secure? Will my hard-earned money is not going into the water?
All right you don’t have to worry about it. This process is completely secured and safe. Fee management software is there to cater to you with a secure, hassle-free, and transparent payment system. This makes make sure that there are no fraudulent transactions or any spam regarding your payment. - Faster Payments
The online fees collection system assures you to get rid of standing in the long queues. This system allows quick remittance by using the protected online payment gateways. Not only that, but this system can also receive payment from willing donors and other contributors. - Easy Customization
Several educational organizations have multiple campuses in some other locations. With the help of fee management software, all the operations of the payment can be easily done. Besides that, if any new campus of any particular organization is established, then it can also be added to the payment module.
In the end, it can be said that online payment gateways are excellent to serve the parents, that too in an easier and faster way. You can pay your fees, sitting on a comfortable couch, and can munch on the fact, that you are also a part of Digital India.
Frequently Asked Questions
Here's what you need to know about PayMyFees, based on the questions we get asked the most.
We follow a 'T + 2' settlement cycle, meaning the payment will be settled into your bank account in 2 working days from the successful transaction date. This is the same bank account details of which were provided in your KYC documents.
Generally an identity proof with photograph and an address proof are the two basic mandatory KYC documents that are required to establish one's identity.
For KYC, one needs to upload copies of PAN Card, Aadhar Card & a Cancelled Cheque (without signature).
The objective of KYC guidelines is to prevent businesses from being used by criminal elements for money laundering activities. It also enables businesses to understand their customers, their financial dealings so as to serve them better and manage its risks prudently.
For KYC, one needs to upload copies of PAN Card, Aadhar Card & a Cancelled Cheque (without signature). If someone does not upload the KYC documents, settlements to the partner Institute will not happen & shall be withheld. To start settlements to your bank account, we need your bank account details & your PAN details.
Students can be added one-by-one or imported from an Excel file. Format of the Excel file can be found in the panel itself.
Unlimited. There is no limit on the number of students you can add or import.
Students will receive an SMS with their login details on their mobile phones immediately after their account is created in the system - either when you import student details in to the system or when you create their account individually.
Unlimited. There is no limit on the number of Courses, Programs or Batches you can create.
No. You can copy the fees structure & rename it as per your needs. You can also modify, add or remove fee heads if needed in the copied fees structure.
PayMyFee supports & accepts payments from all major Credit & Debit Cards (VISA, MasterCard, RuPay, AMEX, Diners), Internet Banking (All major Indian Banks), Mobile Wallets (Paytm, Mobikwik, JioMoney, etc.), UPI & Prepaid Cards. PayMyFee also supports acceptance of International payments.
As a payment aggregator partner, PayMyFees is required under RBI (Reserve Bank of India) guidelines to complete KYC (Know Your Customer) and AML (Anti-Money Laundering) verification for every institute before enabling live payment collection. This protects your institute, your students, and the payment ecosystem from fraud and ensures your settlements are processed without interruption. We collect two categories of documents:
Authorized Signatory's Documents — to verify the identity of the person authorized to operate the account on behalf of the institute (Aadhar Card, PAN Card).
Institute's Documents — to verify the legal existence and banking details of the institute itself (PAN Card, Cancelled Cheque, Registration Proof, GST Certificate/Non-Enrollment Declaration, Authorization Letter or Board Resolution, and a UBO Declaration where applicable).
All documents are stored securely and used solely for verification purposes. Once verified, your account is activated and you can start accepting payments immediately.
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