6 Reasons to Accept Payments Within Your School Information System Versus a Tuition Management Company

Payment Processing Within Your FastDirect School Information System Is Secure and Easy

FastDirect Communications payment processing feature (FDpay) accepts every payment, quickly, easily, and securely. FDpay is powered by Pace Payment Systems, an experienced payment processing company, who engineered their security from the ground up. They follow industry requirements that keep data safe, also known as CPI compliant. With end to end encryption, parent payment data never touches FastDirect Communications’ servers nor your devices. In other words, parent payment data stays squarely within the bounds of the secure and fully CPI compliant Pace servers.

By switching from a Tuition Management Company to accepting payments within FastDirect, you can save your parents a lot of money while maintaining financial health.


6 Reasons to Accept Payments Within Your School Information System:

Check out all the ways making the change can be beneficial!

  1.  You can sign up in minutes and start taking payments in less than a week! 
  2. By using FDpay, your school can see funds in the bank in as little as 48 hours and it’s easy to keep an eye on cash flow. You get real-time updates to the FastDirect Communications Finance reports. Plus, you have access to the Pace Insight reporting tool for no extra cost. Pace reports are easy to read and provide detailed access to fund dispersal and fees/rates. Once parents submit their payment, the money is in the school bank account in 2-3 days! Some tuition management companies only pay their schools a couple times a month.
  3. Parents like having a choice. When parents can choose to use an electronic check with a convenience fee of just one dollar that’s a win! Or, when parents can choose to pay using a credit card with airline miles, then they can pay for that spring break vacation to Destin and that’s a win! It’s easy to switch payment methods based on what’s best for the family that month.
  4. Whether parents pay using ACH or credit card, they can reap the benefits of convenience or even credit card points. 
  5. Tuition management companies typically charge $50 per year per family for their services. This is a cost of $10,000 per year on an average sized faith based school community. Schools that work hard to keep tuition rates low might prefer to avoid this expense.
  6. Finally, many of these systems are not set up to accept donations, which can be frustrating for schools that regularly receive contributions from the community.

 

2020-04-16T15:12:48-05:00

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