Teachmint unveiled TeachPay, a verticalized fintech solution for education which offers schools an efficient method to regulate their fee collection. With this, school administrators will now have a comprehensive visibility of cash flow in their institute, without the hassle of collections. TeachPay caters to end to end fee management for schools with two key features:
- TeachPay Credit: A zero-cost monthly fee payment facility for parents where they have the option to pay in smaller installments while the school receives the entire fee upfront.
- TeachPay Auto: A feature to automates fee payments, minimizing the need for multiple reminders or a miss in payment.
Being a 100% digital process, TeachPay can collect and settle the fees in different bank accounts with auto split and can even use new-age payment modes such as QR Codes, UPI, Net banking etc. to collect ancillary fees. With this, Teachmint becomes the first SaaS solution that caters to every operational need of a school including fee collection, transport management, attendance, exam management and more. Moreover, the platform is end-to-end encrypted to ensure the privacy of personal credentials of parents, students, and schools.
Commenting on the launch, Payoj Jain, Chief Product Officer, Teachmint, 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 special 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. We believe that technology is a great problem solver and can help schools reduce the time spent on operations and instead spend more time focusing on student engagement and making classrooms and lessons more innovative. At Teachmint, we are building the digital infrastructure for education and are committed to introducing many more such products that can take school digitization to the next level.”
TeachPay joins other features on the platform like Fee Management, Attendance Management, Exam Planner, Admission Management, Teacher Training, Transport Management and more. Teachmint’s Integrated School Platform is designed to power schools and institutes and enable NEP-readiness through infrastructure innovation with a combination of advanced administrator tools, a modern LMS and digital content unified into a comprehensive offering.
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