Stanbic FlexiPay is a digital platform which allows parents and students to pay school fees using the bank’s various digital solutions as well as Mobile Money.
Schools are thus given a chance to collect school fees at greater convenience with this terrific and flexible program.
Uganda’s leading financial services provider, Stanbic Bank, launched the innovative digital service to avoid the time-consuming and costly process of lining up in bank halls to pay fees.
This implies you can pay for school fees online, in the comfort of your own home using your computer or mobile phone.
Beyond the convenience of being able to make payments from anywhere thus eliminating unnecessary transport costs, users are also able to make real savings in terms of money.
The solution has very affordable charges.
For instance, there are no school fees bank charges incurred by Stanbic customers who make payments using Mobile (*290#) and Online Banking platforms.
Customers are also assured of secure payments, as FlexiPay verifies each student and school before making a payment.
An instant confirmation of payment with all details (School & Student name, Amount paid) is sent on mobile phones with a unique payment number for future reference.
The school, more importantly, gets the benefit of being immediately notified when a student payment is made.
In addition the system allows for automated reconciliations of collections which helps eliminate forgeries and reduce on wasteful administrative costs such as paperwork.
FlexiPay also enhances the overall management function by allowing the school to generate collection reports such as individual student statements and debtor lists.
Signing up to FlexiPlay and costs
The school needs to sign a standard FlexiPay agreement with the bank (in most cases with the branch manager where the account is held).
The bank will then go ahead to register the school on the FlexiPay platform.
The designated school administrator will then receive an automated email with guidelines on how to access and use StanbicFlexiPay.
The School Admin manager can, if necessary, create other internal users with different roles for ease of management.
Each student is assigned a unique student number by the school. Parents and Guardians can thereafter start paying school fees using any of the Stanbic channels or Mobile Money.
The beauty of it all being there are no setup costs as the system is absolutely free for schools.