Mobile Payment

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Mobile Payment in Education

Meagan Strome ETEC 523 Mobile and Open Learning A1 - Analytical Publishing Project

Content

References

The Future of Mobile Payments

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In House Case Study

How to Use in Education

Processors and Methods

SWOT Analysis

What are Mobile Payments?

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What is NFC, Mobile Wallets and Mobile Phone Payments

Mobile commerce has experienced a significant increase, and mobile payment has emerged as a natural successor to online-based payments.

Mobile payment in education refers to the use of mobile devices, such as smartphones or tablets, to make payments for educational expenses such as tuition, fees, and other related costs. This can include payments made by students, parents, or other authorized parties.

What are Mobile Payments in Education?

Pay Now

A SWOT analysis is a useful tool to evaluate the Strengths, Weaknesses, Opportunities, and Threats of using mobile payments in education.

SWOT Analysis

Mobile payments processors are third-party services that facilitate the processing of mobile payments between customers and merchants.

• Banks: Some banks offer mobile payment services that allow customers to make payments using their mobile devices. Examples include RBC and CIBC, which offer mobile payment services that are integrated with their banking apps.

• Peer-to-peer payment apps: These are mobile apps that allow users to send and receive payments directly to and from each other. Examples include Venmo and Cash App, which allow users to send and receive payments by linking their debit cards or bank accounts to the app.

• In-app payment processors: These are payment processors that allow customers to make payments directly within mobile apps. Examples include Apple Pay and Google Pay, which allow customers to make payments using their mobile devices within participating apps.

• Dedicated mobile payment processors: These are payment processors that specialize in mobile payments, such as Square and PayPal. They offer a range of payment processing services that can be integrated with mobile apps and websites, allowing businesses to accept mobile payments easily.

• Traditional payment processors: These are payment processors that have expanded their services to include mobile payments. Examples include Stripe and Beanstream, which offer payment processing services that can be used across multiple channels, including mobile devices.

• Mobile network operators: These are mobile service providers that offer payment processing services through their networks. Examples include Rogers, Bell, and Telus, which provide mobile payment services that can be charged to customers' phone bills.

Payment Processors and Methods

Mobile payments can provide a convenient and secure payment option for a variety of educational uses, simplifying the payment process for students, their families, and school administrators.

How to Use in Education

Educational Uses

• Paying for school-related expenses
• Fundraising
• Student fees
• School Store purchases
• School events
• Student organizations
• Continuing education

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Efficiency Convenience Security Accessibility Cost-effectiveness Integration Adoption

Institutional Objectives and Implementation

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Selection of Processor Integratation Promotion Monitoring

Objectives

Implementation

I have examined the payment options employed at the high school where I am a teacher.

In HOuse Case Study

For simplicity, I will assume that every school in the division pays similar fees. There are 40 schools in the division. That's about $36000 / year in fees, not including required equipment and maintenance.

From September (the beginning of the school year) until now, my school has paid about $1600 in fees to Moneris. (Rounding down that's about $300/month).

Moneris charges its' customers for payment processing based on a variety of factors, including the type of transaction, the volume of transactions, and the specific services the customer requires.

My school currently uses Moneris and has 4 mobile point of sales (POS) terminals.

Moneris

The student goes to the cafeteria and purchases lunch. Student pays via debit card. (School is charged a fee from Moneris).

Example 2

The student pays for a field trip. Student pays using a Credit card. (School is charged a fee from Moneris).

Example 3

Student buys snack from the food cart. Student pays cash. (No fee).

Example 1

On a typical day at my school, many transactions occur. Students can pay for these transactions using cash, debit, or credit (Visa or MC). Below are three common examples:

Types of Transactions

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Pay touch-free with the app buy scanning a seller’s QR code.

PayPal

PayPal is an online payment system that allows individuals and businesses to send and receive money electronically. It offers a range of services, including online payments, peer-to-peer transfers, and merchant services. Users can link their PayPal accounts to their bank accounts, credit cards, or debit cards, and use the platform to send or receive money.

Alternative Mobile Payment Solution

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Benefits: Savings: Switching to PayPal would save the school thousands of dollars per year. Convenience: PayPal offers a mobile payment option for school-related expenses, accessible from mobile devices. Students would only need to tap their phone or device to pay. Security: PayPal provides an additional layer of security for transactions compared to cash or checks. Accessibility: PayPal is a widely recognized and familiar platform for many people. Drawbacks: Fees: PayPal charges transaction fees to the user on certain transactions, which may accumulate to significant costs for students and their families. Accessibility: Not everyone has a PayPal account, which may pose difficulties for families without one. Technical issues: Potential technical issues such as connectivity problems or account errors may disrupt the payment process.

Benefits and Drawbacks of using PayPal

The future of mobile payment technology looks promising, with continued growth and advancements in the field.

The Future of MObile Payments

Smile to Pay

Internet of Things (IoT)

Biometric Authentication

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The future of mobile payment technology appears to be heading towards a more convenient, secure, and interconnected payment system, making it easier for people to make transactions in an increasingly digital world.

Blockchain and Crypto Wallets

Future Trends

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