Recently, Stanbic Bank Uganda launched a digital innovation that has all but done away with the need for parents to spend hours in a bank queue to pay their children’s school fees: FlexiPay.
Stanbic FlexiPay is a new digital platform that allows our customers to pay for said fees online, in the comfort of their own homes – or anywhere – using their computers or mobile phones. As a result, schools can collect the money owed to them at greater convenience.
Beyond the convenience and ease offered, our customers are also able to make real savings in terms of money, as the service has very affordable charges. For example, no charges will be incurred by customers who make payments using their mobile phones or on our online banking platforms.
Customers can also rest assured that their payments are completely secure; FlexiPay verifies each student and school before a payment is made. Afterwards, an instant confirmation of payment with all details (school and student name, amount paid) is sent to mobile phones with a unique payment number for future reference. More importantly, the school benefits by being immediately notified when a student payment is made.
Furthermore, the FlexiPay system allows for automated reconciliations of collections, thus helping to eliminate forgeries and reduce wasteful administrative costs, such as paperwork.