As we have all seen over the past few years, online or digital payments have grown significantly in the school and camp industries. Providing an online payment option creates a great registration and payment experience for parents. Beyond the convenience to parents, it enables better tracking of payments across multiple programs.
Serving independent schools over the past 20+ years, we have had the pleasure of working with Diamond Mind at dozens of schools. They are a leading payment solutions provider to schools. Recently, they completed a comprehensive payments survey and I thought you might like to see the results.
Diamond Mind surveyed 3,000 independent schools and received responses from over 250, a sample size large enough to reflect the trends of the entire market. Specifically, convenience for parents (80%), ease of payment tracking and reporting for school staff (57%) and the cost of payment acceptance and processing (41%) are the three top reasons schools offer payment options. Lowering costs (39%), improved accuracy (31%) and faster time to receipt of payments (22) were also listed as priorities.
As always, I am here should you have any questions on payment options or any other topic.
I hope your summer has been a great one so far!