Bengaluru: Gone are the days when parents and students stood in long queues to pay the tuition fees. According to Paytm, over 500 schools and colleges in the city have shifted to cashless payment. The e-payment giant's aim to reach even the smallest of retailers in remotest areas of the city has enabled consumers to opt for cashless transaction. “Our 'cashless campus' initiative has been going on since mid-2016 and includes CMR Group of Institutions, Ekya Schools, Manipal Academy of Higher Education and many more. Paying through Paytm is advantageous as it has additional features like fee reminders through SMS," said Mr Kiran Vasireddy, COO, Paytm
On the use of QR code technology for payment of fees, on which Paytm is planning to spend over Rs 500 crore as announced in December 2017, Mr Vasireddy said that the QR code enables parents to scan and enter the student's enrollment number easily. Paytm said that over half-a-million people across the country pay school and college fees using their platform every month. Bengaluru is one of the top five markets at the pan-national level.
As per the recent directives of the HRD Ministry and CBSE, educational institutions are eliminating cash and moving towards digital payments. Mr Sridhar C., Dean, Administrative Services, Candor International School, said, "Paytm enables parents to pay school fees with any credit card without extra charges for transactions. For the institution, the convenience of getting an instant message that the transaction is complete helps us send an acknowledgement to the parents." With the prices of smartphones falling, Mr Vasireddy said that Paytm is penetrating into even smaller towns.