New Delhi: Teachmint has launched TeachPay, a fintech platform for schools Teachmint, an education infrastructure provider, has introduced TeachPay, a fintech solution for schools to regulate fee collection, providing school administrators with complete visibility of cash flow into its institute.
TeachPay offers two key features, namely TeachPay Credit and TeachPay Auto, to manage end-to-end fee collection for schools. TeachPay Credit allows parents to pay fees in smaller instalments while the school receives the entire fee upfront, while TeachPay Auto automates fee payments, minimizing the need for multiple reminders or missed payments.
TeachPay can collect and settle fees in different bank accounts with an auto split. It can also use payment modes such as QR codes, UPI, net banking, to collect ancillary fees. With this, the platform is end-to-end encrypted to ensure the privacy of the personal credentials of parents, students, and schools. TeachPay joins other features on the platform like fee management, attendance management, exam planner, admission management, teacher training, transport management, and more.
Commenting on the latest development, Chief Product Officer of Teachmint, Payoj Jain, said: “Teachmint is on a mission to enable schools with a world-class digital infrastructure that creates efficiencies at every stage of operations. TeachPay is one such addition to our gamut of offerings which eases one of the most complex operations in a school – fee management. What makes this product even more remarkable is that, while it boosts cash flows in a school, it will also help parents immensely by giving them a reliable alternative to upfront fee payment.”
