Teachmint, a leading provider of education-infrastructure solutions powering the education ecosystem to deliver inspired learning outcomes, has recently introduced a verticalized fintech solution for education TeachPay. It offers schools an efficient method to regulate their fee collection.
As a part of this initiative, school administrators will now have a comprehensive visibility of cash flow in their institute without the hassle of collections. TeachPay caters to end-to-end fee management for schools with two key features:
TeachPay Credit: A zero-cost monthly fee payment facility for parents where they have the option to pay in smaller instalments while the school receives the entire fee upfront.
TeachPay Auto: A feature to automate fee payments, minimizing the need for multiple reminders or a miss in payment.
Being a 100% digital process, TeachPay can collect and settle the fees in different bank accounts with auto split and even use new-age payment modes such as QR Codes, UPI, Net banking etc., to collect ancillary fees. With this, Teachmint becomes the first SaaS solution that caters to every school’s operational needs, including fee collection, transport management, attendance, exam management, and more. Moreover, the platform is end-to-end encrypted to ensure the privacy of the personal credentials of parents, students, and schools.
Commenting on the latest development, Chief Product Officer of Teachmint, Payoj Jain, said:
Teachmint is on a mission to enable schools with a world-class digital infrastructure that creates efficiencies at every stage of operations. TeachPay is one such addition to our gamut of offerings which eases one of the most complex operations in a school – fee management. What makes this product even more remarkable is that, while it boosts cash flows in a school, it will also help parents immensely by giving them a reliable alternative to upfront fee payment.
Jain further added:
We believe that technology is a great problem solver and can help schools reduce the time spent on operations instead of focusing more on student engagement and making classrooms and lessons more innovative. At Teachmint, we are building the digital infrastructure for education and are committed to introducing many more such products that can take school digitization to the next level.
TeachPay joins other features on the platform like Fee Management, Attendance Management, Exam Planner, Admission Management, Teacher Training, Transport Management and more. Teachmint’s Integrated School Platform is designed to power schools and institutes and enable NEP-readiness through infrastructure innovation with advanced administrator tools, a modern LMS and digital content unified into a comprehensive offering.
Founded by Mihir Gupta, Payoj Jain, Divyansh Bordia, and Anshuman Kumar in 2020, Teachmint has enabled millions of educators and thousands of schools to create global, future-ready classrooms with its proprietary technology and school software solutions. The platform offers features such as virtual classrooms with assignment and notes sharing, administration management, student information management, progress tracking, etc. With its innovative and powerful SaaS solutions, the startup caters to the end-to-end needs of all education providers, from K-12 schools to after-school tutoring, universities, creators and even EdTech.
Teachmint had previously announced its partnership with OrangeSlates, a leading educator upskilling platform, to enable dedicated and consistent upskilling of school teachers across India last year in October. The company has acquired startups, including MyClassCampus, Airlearn, Teachmore, and others, in the recent past.