If you’re a part of the higher education space, you know how easy it can be get pulled in a million different directions. Buried deep under budget discussions, vendor selections, compliance requirements, and more is the promise of improving student lives. Coupled with the pace at which payments technology is evolving, it should be no surprise that student expectations precipitately shape campus payment revolutions. We’ve already seen it this year with the extinction of cardholder signatures. What’s next? More importantly, how can universities and colleges be prepared? Let’s find out.
Life in the fast lane
After skipping checkout lines at an Amazon Go store, using fingerprints/ facial recognition to “Apple Pay” for their morning Starbucks run, and reconciling a friend for last night’s dinner with Venmo, it’s safe to say that students will never be the same. Tech savvy, on-the-go, and independent, they are embracing technologies that enhance their lifestyles while quickly discarding those that don’t. In the past few years alone, we saw payments go online, mobile, P2P, real-time, and even arrive on social. What do all of these solutions have in common?
Change is the only constant
The answer is: unparalleled convenience and customization powered by sophisticated backend technologies. Analytics, cloud API’s, machine learning, and many more have ushered us into a payments era of device agnosticism, advanced reconciliation, and real-time transactioning. Can we really blame students for expecting more?
It all comes full circle
Going back to basics, higher education innovations should be vetted and adopted in the lens of how effective they are in bettering the student experience. The question is, how can we decide from the galaxy of third-party vendors, all while keeping a pulse on emerging, unmet student needs? That’s where we come in. By understanding the nuances within your organization, implementing an agile approach to payment integration, and creating a robust technology infrastructure, we work together to help keep your students happy.
Icing on the cake
As the team on your team, our work doesn’t end once we’re done revamping your payment processing to state-of-the-art distinction.
Security and compliance, check.
Consultation and analytics, check.
Training and reporting, check.
What are you waiting for? Find out why Northwestern University’s Director of Treasury considers us to be an “invaluable partner, augmentation to staff, and source of real expertise in this space”: