Electronic School Fee Payment System in Kenya
The man behind PesaPay, an online payment tool and founder of Verviant Consulting Services Agosta Liko, has unveiled a new platform that will ease payment of school fees.
The innovation known as SchoolPay was launched at the Kenya Secondary School Heads Association meeting in Mombasa on Wednesday. It is meant to enable institutions request and manage mobile payments from parents electronically.
Schools will be able to receive and track Zap, YuCash, M-Pesa and credit card payments for fees and special activities such as trips, activity fees, fund raisers and other impromptu events through the system. At the launch, more than 90 schools signed up to offer the service to their parents starting next term.
This is up from three schools that piloted the system designed to handle over 50,000 schools Second Term. "Our approach is to enable any Kenyan with a mobile money product to pay online safely. We are in discussions with banks to enable them to allow their customers to pay online using bank products such as Hello Money and Bankika," said Mr Liko.
He said that parents whose schools accept SchoolPay will save up to 80 per cent of the current costs associated with paying school fees. This will also enable those who are abroad to pay fees using Visa, MasterCard and American Express.
SchoolPay uses PesaPal technology to track school fees payments from mobile money, PesaPoint or credit cards. "We are giving schools one free term and then we will charge Sh10,000 per term," Mr Liko says.
Last year, Mr Liko launched PesaPal, which allows people to make payments online. Besides it, other forms of payments include MobiPay, JamboPay and iPay.