Benefits

  • Simpler administration because one system can do as much as required
  • Reduced costs of receiving, counting, insuring, storing, transporting and reconciling cash
  • Reduced risk arising from robbery, theft, fraud and counterfeiting
  • Reduced operating costs
  • A closed loop system will keep spend on-campus, and may boost revenue
  • Student funds held in a closed loop system can support cash flow
  • Significantly faster transaction time leads to smaller queues
  • Financial reports and administration can be automated
  • Minimized staff involvement in high-volume, low-cost transactions
  • Student, staff and partner/supplier experiences are all improved
  • Cashless systems minimize the need to print receipts – saving time and costs
  • Provides a fast way to deliver funds to students, especially in urgent situations
  • Provides parents with means to view transaction histories and balances
  • Provides parents with means to update spending limits and food restrictions for their students
  • There’s no need for users to worry about holding cash
  • Funds can be loaded to the account quickly and conveniently – using online or cash
  • Students have greater control over their finances: transaction histories are viewable online
  • Faster transactions avoid wasting time in queues
  • Users have less to carry around (no need for wallets to be bulked out with bank notes, heavy coins, etc.)
  • It’s quick and easy to block lost or stolen smart cards and set up an alternative payment system
  • Bullying is reduced
  • Stock management, administration and cash-handling are simplified, less costly and more secure
  • More accurate stock/income reporting becomes possible