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Going Cashless at Your University? Fiuu Is Your Ideal Contactless Payment Solution

January 26, 2021

As conscious efforts are being made by the Malaysian education industry to modernize the way education is delivered, Fiuu hopes to value-add to the administrative end of education by enabling cashless payment services for various universities in Malaysia.

From the payment of tuition fees, meals to tickets, the transition toward cashless universities has started to pick up steam - Monash University Malaysia, Universiti Sains Islam Malaysia (USIM) and Universiti Teknologi Mara (UiTM) are a few of the universities who have enabled cashless transactions. Working with Fiuu’ solutions has made it seamless for universities to process multiple payment types across multiple locations.

With a proven infrastructure that integrates easily to your current payment systems, we help you digitize payment, minimize errors, maximize efficiency, and generate payment transactions accurately.

With Fiuu’ payment systems, your students can pay their bills and purchase items on university grounds easily. Not only will you create a safer environment for everyone, but they will be able to pay on time with our payment gateway’s built-in recurring payment system.

With our track record of serving some of the biggest names in e-commerce, Fiuu’ payment gateway is reliably able to handle any major transactional spikes.

Find out why you should partner with Fiuu payment gateway to create an integrated payment solution for your university:

1. Drives efficiency

Moving to digital systems in for your non-teaching administration activities greatly improves efficiency, effectiveness and convenience for the university.

According to a study from Deloitte, the primary pain points that a digital payment system aims to address are centered around manual processing, the risk of fraud and loss as well as poor user experience.

With Fiuu, you get a digital payment ecosystem to bill and receive your payments. By worrying less about what is owed and paid, you can focus on the biggest priority to your students – their education.In addition to driving efficiency, by digitizing transactions between schools and parents/students, the risk of human errors is significantly reduced, whilst the experience for all your stakeholders is improved.

2. Delivers convenience

The pandemic has been one of the major catalysts for the shift towards contactless payments, with businesses responding to health-conscious customers and adapting to the new normal of social distancing, the added convenience is essential as well. You can view and track all previous transactions from an easy-to-use UI, and analyze payment trends - ideal for financial planning while maintaining the transparency of your transactions.

Furthermore, the added convenience of online payments will also improve the user experience. Parents and students will appreciate the speed and ease to make payments, without the hassle of traveling to a physical counter to pay.

Digital payments also save administrators time from processing payments. Using online payments also saves you money and reduces waste - as you don’t need to buy paper and ink to print statements. When performing a study on Australian schools, Deloitte reports that more than RM145,000 (AUD $48,000) and 2,145 hours were saved annually per school after implementing digital payment systems.

3. Fewer late fees

Late payments can be frustrating for an administrator who has to keep track of them and make the additional effort to send reminders. It can also prevent the school from getting the necessary funds to pay its staff and run its educational programs. With a digital payment system, there are often fewer late payments.

Students and parents can process school transactions just like they process any other transactions – in their own time and at their convenience. Parents or students can pay online, and no longer have to mail in a check or pay in-person. To minimize the chances of late payments, Fiuu is able to install an out-of-the-box recurring payment system for your student portal.

4. Flexible payment options

Dealing only with cash can deter payment and frustrate users. Online payment systems open up a wide range of payment options - including credit/debit cards, online banking and e-wallets.

Fiuu’ Virtual Terminal app will add an additional way to receive payment on university grounds as well. All you need is a smartphone to generate a QR code to perform transactions, making it simple for your students to purchase items hassle-free. We can also help scale your payment touchpoints at an affordable cost.

5. Increased security

Digitized payments are tied to banking infrastructure that is tried, tested and highly secure. After all, cardholder information is sensitive and can be used for fraudulent purposes if it gets into the wrong hands.

Digitizing payments has the benefit of removing previously physical monetary transactions, e.g., cash. Less cash is needed to be taken by students, thereby removing security risks.

Act now and make Razer Merchants Services your education partner!

No matter what your requirements are, Fiuu has the expertise to deliver a plug-and-play solution that gets you accepting cashless payments immediately.

From the Institute of Technology Petronas Sdn Bhd (UTP) to Universiti Kebangsaan Malaysia (UKM), we have helped implement working digital payment solutions for local and international universities. No matter the size of your university, we have the practical experience to create a digital payment solution suited for your university.

Speak to us by emailing us at [email protected] and find out how we can make contactless payment a reality in your university.