How to Become a Cashless School

As the world rapidly embraces digital solutions, Africa is leading the charge by tailoring technology specifically to meet our unique needs. Innovations in banking and telecommunications have demonstrated our ability to bridge technological gaps, facilitating widespread financial inclusion across the continent.

Increasingly, educational institutions are transitioning to cashless payment models, reaping significant benefits such as reduced administrative costs, decreased risk of theft or loss of cash, and simplified financial management.

In this post, we explore what it means to be a cashless school, how your school can smoothly transition, and how VeryPay powers this innovation.

What Is a Cashless School?

A cashless school adopts digital payment systems, allowing students, parents, and staff to pay for meals, transportation, books, field trips, and virtually any other school-related expense without physical cash. This is typically enabled by specialised closed-loop software, ensuring each community member has a dedicated digital account for effortless, secure transactions.

Becoming a Cashless School: A Step-by-Step Guide

Step 1: Assess Your Needs

Before transitioning, consider your school’s specific needs. Evaluate how digitisation will affect students, parents, merchants, and staff. Anticipate potential challenges and proactively identify solutions to ensure the shift makes daily operations simpler—not more complicated.

Step 2: Pick the Perfect Partner

Choosing the right technology provider is crucial. VeryPay’s Cashless Schools solution offers numerous tailored features to make the switch seamless:

• One Wallet, Multiple Users: Parents manage a master wallet linked to all their children, simplifying financial management and spending oversight. 
• NFC Tokens: Contactless cards and bracelets with unique IDs for each child, enabling swift tap-to-pay transactions. 
• Flexible Top-Up Options: Parents can conveniently fund accounts via mobile money, USSD, bank transfers, or cash deposits at designated locations. 
• Offline Payments Capability: Transactions are possible even without internet access, ensuring uninterrupted service. 
• Versatile Onboarding: Schools can onboard students individually or in bulk, catering to various enrolment scenarios. 

Step 3: List Your Payment Needs

Clearly define what you intend to digitise. From school fees and tuck shop purchases to extracurricular activities and event tickets, knowing your precise requirements will streamline your transition to a cashless system and help you select the best provider.

Step 4: Set Clear Timelines

Implement the cashless system gradually, beginning with simpler payments like tuck shop purchases. Progressively expand the system to encompass school fees and other significant transactions. A phased approach ensures smoother adoption, minimising disruption.

Step 5: Keep Everyone Informed

Effective, ongoing communication is critical. Regularly update parents, students, and staff about the transition’s timeline, benefits, and progress. Host town hall meetings, send email updates, and utilise SMS and WhatsApp broadcasts to keep everyone informed and engaged throughout the process.

By following these structured steps, your school can effortlessly transition to a cashless environment, enjoying all associated advantages. VeryPay’s Cashless Schools solution is purpose-built to support your journey.

Ready to start? Request a demo or learn more at verypay.africa.