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.
For more information on payment trends at independent schools, download the Payment Survey Report here or watch the webinar here.
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!