Roadmap: I will be presenting how your students or their parents can already pay your school fees through the internet transacting directly from their bank account, and how you in turn will receive those payment funds directly in your bank account the following day.
The number of cashiers you employ have to be proportional to the number of students you want to enroll or process during the short payment periods. Yet during those payment periods the load on each cashier skyrockets, for one it becomes difficult to catch counterfeit notes.And then all that cash has to be brought to the bank. Do you have your cash picked up by an armored car?ClickAnd then Accounting has to go through each receipt and enter the payment into the corresponding student ledger. How many students do you have in total? …Then that’s ______ individual entries that needs to be made. Now what if the payment can be automated, with the payment figures downloadable in a spreadsheet. Or even going further…What if the entry into the ledgers are automated too, with the payment gateway interfaced with the school’s accounting system?
And so an online payment facility indeed greatly benefits your payors. Why? They don’t anymore need to wake up early and take the day off to pay the school fees. They can now transact payments past midnight if they want, they can now do so from the comfort of their bedroom or office table. Do you think that would enhance the school's positive image and marketability?ClickHow many times have you had a case of students overstating the tuition fee amount, or diverting it elsewhere to have a good time. That impacts your payers. And if they can’t pay or be delayed, it impacts the school.Heard about NoimeLagman, a student of APC who went missing after trying to enroll? She was eventually found, minus P33,000 cash enrollment money, but not everyone is as lucky to emerge alive.
Here’s the poster.Do you have those cases here too?
But then some online payment facilities may be limited in scope. An online payment facility offered by a bank will be limited to their depositors, catering to some 5% of your payers, instead of the 95%.Lyceum, which just signed up with us has had only 10-11% usage of online payments with an online payment facility from two major banks. JRU, now using BDO retail internet banking...has even less than 5% of their students paying online. AIM did a 3-way comparative between three online payment gateways, BDO, BPI and GreenPeso. Their board only allowed opening of accounts with BPI, but in the words of their CFO then, Mr. Francis Dela Cruz, “I don’t want to be forced to settle with an inferior system.” AIM has signed up with GreenPeso.GreenPeso carries BancNet banks, that’s 47 banks – majority of Philippine banks - with over 12 million depositors. Add to that the 3 million users of GCASH. Moreover, BancNet which now manages Expressnet has announced that they are aiming for online interconnection with Expressnet on the third quarter; that adds BDO, all the BPIs, and Landbank.
Some Online Payment Facilities may be limited on when the school will know that payment has been made. Delayed posting of payments discourages students who are rushing to be enrolled or get an exam permit on time for the exam. Students avoid payment facilities that post payments 2-3 days later. How often did a student or the parents, after paying the tuition in the bank, returned to a lapsed assessment and ended up failing to get enrolled in some subjects.This is how it happens. (explain illustration)
Culled from a local survey conducted on students, their parents and school staff from Accounting, Finance, Registrar and IT, this is a list of the top 10 things looked for in an online payment gateway for schools. The Top 2 are what we just discussed.#3#4#5A bank’s OPG provides a 3-month history, but is only searchable for the bank’s transaction data like Account Number, Period Covered, Transaction Type and Amount. Comparably, GreenPeso provides complete history which is searchable for school data like Assessment Number or Student ID, making is easy for the school to confirm if a particular student’s fees have already been paid. In fact GreenPeso’s search engine is customizable.
#6#7GreenPeso provides your with payment analytics that reflect the payment types you create. For instance, if you have the likes of BS Nursing 1st Year 1stSem, Analytics would breakdown the reports by course, year and semester, in real-time. Analytics could also be configured to show data over a period of years; let’s you know at a glance what’s the revenue contribution of a particular course from year to year…among others.#8Some banks require 3 days to approve, others 2-3 weeks. You can transact with GreenPeso anytime with your ATM number and PIN.#9#10The OPG of banks are bills payment centers where the payer selects the biller to pay, and so the school is in a dropdown along with commercial companies like Skycable, PLDT, Ace Insurance, Davao City Water District…STOP!! Proceed to ONLINE DEMO
Chinabank does the cash management for GreenPeso. So if you can have your settlement account with Chinabank, you will receive your payment funds the soonest. Well, you will receive the settlement the following day with Chinabank and BancNet-affiliated banks. For non-BancNet banks, Chinabank will issue a manager’s checks for deposit, that will be subject to check clearing time.
You are about to go to Costs.
You are about to go to the Implementation Flow.
designs, builds, and implements e-commerceand other online systems.Service: enables your customers to instantly pay online with their ATM account.
Enables paying your school feesthrough the internet from abank account.And the school to receive thepayment funds in its bank accountthe following day.
Dramatically reduces cashiering and cash handling requirements Provides Accounting with the payment amounts to enter into the student ledgers
Benefits to Parents & Students Eliminates the need to queue at the cashier or teller, and transact payments from anywhere, anytime. Reduces the risk of overstating, diversion or theft of tuition money.
Noemi Lagman, 21 years old, 4’10ft., mid-heavy build, morena.A student of Asia Pacific College –Magallanes left her house atMultinational Village, ParañaqueFriday, January 6, 2012 around 9-10 AM to enroll carrying P33K.She was last seen at the entranceof Multinational Village nearDuty Free, Parañaque.Please Pass, Please Help. ThankYou.Person to notify:Noel Lagman (Father)0921-500-1468
FACT: Some Online Payment Facilities may be limited in number of payers. 47 banks + 12M cardholders 3M users on the pipeline for Q3, 2012bank’s depositors 9.6M cardholders
FACT: Some Online Payment Facilities may be limited on when the school will know that payment has been made. 2-DAY REAL-TIME POSTING POSTING Transaction Transaction Posting Posting 2-day posting Day -4 -3 -2 -1 0 +1 TIME LINE Assessment Expiry Exam Schedule
Online Payment Gateway Comparative ATTRIBUTES BANK‘S GREENPESO1. How many payers can use? Limited to the banks 47 BancNet bank’s 12M depositors depositors, 3M GCASH users2. When will the school know 2-3 days after the Real-time that payment has been transaction made?3. How much does the school Ave. P20/transaction None pay per transaction?4. Does it generate an User can print page showing Yes, formatting customizable, Acknowledgement Receipt transaction completed, non- with past receipts retrievable to the payer? retrievable anytime5. Does it provide payment 3-month history, not Complete history, searchable history that’s searchable for searchable for school data for school data (assessment school data? #, student ID)
Online Payment Gateway Comparative ATTRIBUTES BANK‘S GREENPESO6. Can the school create No Yes payment types, e.g. BS Nursing 1st Year, 1st Sem.?7. Does it provide payment No Yes, broken down by analytics? payment types created8. What does it require for Access to retail internet No processing needed, just the payors to be able to banking facility, requires the ATM Card Number and pay? application and approval. PIN.9. Is it part of the schools No Yes, delivers traffic to and website? enhances schools website.10. Does it lump all schools Yes No, payment page is and billers in the payment dedicated to the school. page?
GreenPeso for Schools Online Payment Flow DAY 1 DAY 2 12:01 am 12:00 midnight 12:01 am 1) GREEN PAYER PESO1) Payer accesses School’s website and selects online payment.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 2 12:01 am 12:00 midnight 12:01 am 1) 2) GREEN PAYER BANCNET PESO2) Website channels online payment to BancNet Secure Site.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 2 12:01 am 12:00 midnight 12:01 am 1) 2) GREEN PAYER BANCNET PESO 3) PAYER’S BANK3) BancNet sends online payment message to Payer’s Bank.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 2 12:01 am 12:00 midnight 12:01 am 1) 2) GREEN PAYER BANCNET PESO 4) 3) PAYER’S BANK4) Payer’s bank approves online payment and debits Payer’s bank account. Sends approved payment and debit message to BancNet.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 2 12:01 am 12:00 midnight 12:01 am 1) 2) GREEN PAYER BANCNET PESO 5) 4) 3) PAYER’S BANK5) BancNet sends real-time message to Green Peso informing that payment was made and Payer’s account was debited.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 2 12:01 am 12:00 midnight 12:01 am 1) 2) GREEN PAYER BANCNET PESO 6) 5) 4) 3) PAYER’S BANK6) Green Peso shows BancNet payment approval in Payer’s screen and shows a “Print Acknowledgement Receipt” with a unique ID number to distinguish the payment from others.
GreenPeso for Schools Online Payment Flow DAY 1 12:01 am 12:00 midnight 12:01 am 1) 2) GREEN 7) PAYER BANCNET PESO 6) 5) 4) 3) PAYER’S BANK7) Payer prints Acknowledgement Receipt to show to School that payment has been made.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 212:01 am 12:00 midnight 12:01 am 1) 2) 8) GREEN7) PAYER BANCNET CHINA BANK PESO 6) 5) 4) 3) PAYER’S GREEN BANK PESO 8) By midnight, BancNet transmits the full listing of payments in Day 1 to GreenPeso and Chinabank.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 212:01 am 12:00 midnight 12:01 am 9) 1) 2) 8) GREEN7) PAYER BANCNET CHINA BANK PESO 6) 5) 4) 3) PAYER’S GREEN BANK PESO 9) By 9:00 am, no later than 12 noon of Day 2, BancNet remits all payments made to Chinabank. This is after BancNet has cleared and settled all online transactions with all participating banks.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 212:01 am 12:00 midnight 12:01 am 9) 1) 2) 8) GREEN7) PAYER BANCNET CHINA BANK PESO 6) 5) 10) 4) 3) SCHOOLS & THEIR BANK(S) PAYER’S GREEN BANK BANK BANK BANK PESO 1 2 … N 10. After receiving the payments from BancNet, Chinabank in turn immediately remits to the bank accounts of all individual merchant Schools based on the full listing of payments received by midnight of Day 1.
GreenPeso for Schools Online Payment Flow DAY 1 DAY 212:01 am 12:00 midnight 12:01 am 9) 1) 2) 8) GREEN7) PAYER BANCNET CHINA BANK PESO 6) 5) 10) 4) 3) PAYER’S GREEN 11) SCHOOLS & THEIR BANK(S) BANK BANK BANK BANK PESO 1 2 … N 11) Green Peso sends list of payments per School starting 12 pm on Day 2 to support the credits made by the banks.
CostsAnnual Maintenance FeeNumber of Average No. Monthly Average Students of Students Cost Per Student Monthly Fee Annual Fee VAT Total 1-5,000 2,500 0.4 1,000 12,000 1,440 13,440 5,001- 10,000 7,500 0.17 1,250 15,000 1,800 16,800 10,001- 20,000 15,000 0.12 1,750 21,000 2,520 23,520 20,001- above 27,500 0.08 2,250 27,000 3,240 30,240Transaction Fee: Php35.
Requirements1. Signed GreenPeso MOA2. BancNet Documentary Requirements: a. Completely filled out E-Merchant Data Form b. SEC Registration or DTI Registration c. Business or Mayor’s Permit d. Audited Financial Statement e. BIR Form 1901 or 2303 (Cert. of Registration) f. Company Profile
Implementation FlowSchool reviews & approvesMOA wordingGreenspan sends finalizedMOA for signingSchool submits signedGreenPeso MOA, BancNetdocumentation requirementsSchool & Greenspan’s ITcoordinates for setup &installation. (1-3 days)School receives BancNet E-merchant ID (2-3 weeks)School’s IT conducts testing,then Greenspan’s IT turnsover payment gatewayInformation drive to schoolspayersLegend: School Greenspan School & Greenspan
Proposed Info Drive1. Put up Standees, Streamers; Distribute flyers When: Upon launch of online payment gateway Needs: Approval of content, design & location2. Setup a booth offering hands-on live demo When: During payment periods Where: Near cashiers Needs: space, signage (provided), computers, internet, facilitators, online computer room3. Conduct a presentation/workshop to PTA When: During a PTA Meeting Needs: projector & screen, computers, internet, facilitators
CostsBank Transfers Settlement Account With Fee (Php) Payment funds available for disbursementChinabank, any branch Transfer Fee: P15 12 pm, Day 2nationwideBancNet-affiliated bank, Transfer Fee: P150 12 pm, Day 2any branch nationwideOther banks Managers Check: P35 Subject to clearance period of settlement bank BACK