Effective and timely refund processing is vital both for compliance and for meeting student expectations in higher education. PayMyTuition offers next-generation solutions to remit funds to domestic or international students quickly, safely and at the lowest cost to the university while reducing staff workload and institutional resources.
What we offer:
Seamless, easy and quick deployment that requires fewer institutional resources
Responsive and customized support from a recognized, world-class payments provider
Innovative solutions that provide reliable and secure automation of refund processing
Guaranteed compliance with all applicable regulations
True integration offering the most accurate and efficient processing to customer accounts
End-to-End Refund Automation: PayMyTuition developed a student account refund solution that automates secure delivery of credit balances to domestic or international accounts that reduces staff workload. Process options provide institutional flexibility for refunding directly to the method of payment (including refunding to credit and debit cards) as well as holding refunds temporarily to allow customers additional time to establish ACH delivery. First to the market programming that can identify U.S. Title IV Parent Plus refunds that should be directed to non-student (parent) borrowers.
Real-time, Seamless Integration: Real-time integration provides your students and staff with a current status of their refund. Updating accounts real-time leads to fewer inquiries from customers and better reporting for your university. Deployment is fast, seamless, and requires fewer institutional resources.
Advanced Administrative Customer Service Center: Provide your staff with a one-stop administrative dashboard that allows them access to update and control refund processing in order to serve customers effectively. Simplify reconciliations with detailed reporting and instill confidence that automation ensures processing accuracy.
Effective Messaging and Banking Validation: Ensure compliance with banking protocols and regulations that validates customer account information real-time. Provide timely and effective communication in a manner that students prefer and that can be custom-tailored with your institution’s message, frequency and tone. Rejected deposits are identified early and allow the university to choose from several options for re-processing.
Ensure Security of Customer Banking Information: Customers can feel confident that their banking information is stored securely and that their refunds will be available as quickly as possible in the industry.