Choosing the right payment processing provider for your college or university can be a challenging and, at times, an overwhelming task. Whether your enrollment size is a few thousand or tens of thousands, there are several qualities to consider before making your decision.
1. Security & Compliance
The number of payment interactions on college campuses is staggering. In person and online payments introduce significant risk to an institution. When choosing a payment provider, ensure security and compliance is a priority. Look for PCI DSS Level 1 certification as a measure of security for personal and payment information. This standard is designed to ensure that all information is collected, transmitted and stored according to the Payment Card Industry requirements.
2. Student User Experience
We operate in the digital age. Students connect to every part of their lives with their smartphone. They want to make payments, view and manage their account information, and access their data in real-time, right from their phones. Students are the life of a campus, make sure you’re meeting them where they are and give them the best possible experience.
As an administrator, you have an incredible amount of responsibility. Choose a payment provider that simplifies your life by creating efficiencies and reducing costs; allowing you to focus on more important things, your students. Search for a partner with connected products that integrate with your ERP so your office isn’t maintaining multiple databases and manually updating student records.
4. Customer Support
Your payment provider should be a partner that shares the mission of your institution and the goals of your students’ success. Choose to work with payment experts in the Higher Education space that will provide solutions tailored to the unique needs of your institution. Supporting your families is critical to your business; make sure your provider shares your commitment to them.