When it comes to paying the school fees of their wards, one challenge many parents and guardian face is being able to get funds ready before the start of a school term, and as such, end up staying in the debt, while the school waits endlessly to receive payment each term.

School Purse is trying to make the process easier for both parents and schools. The platform is a free, easy-to-use and more effective way for schools to receive school fees instantly and securely. It provides payment flexibility by enabling parents make payment through automated scheduling, that is; parents would have paid their wards school fees in monthly installment before the start of a new term. SchoolPurse promises to improve school’s cash flow by 11% and reduce late payments and bad debts by 50%.

To use the platform, parents simply create an account for free, schedule your monthly payments for their children, which are automatically processed using a selected debit card card or bank account.

Launched in March 2017 by Stanley Ojadovwa, the platform provides parents with a convenient way to manage school fees; ability to spread payment by regular Direct Debit; make split payments for kids in one or more school; a dashboard to monitor school fee payments and regular statements each time a payment is made.

For schools, they are able to reduce administration with automatic processing and automatic reconciliation, receive funds directly deposited into their current bank account and view payments in an easy-to-use central dashboard.

Another interesting feature of School Purse is the Credit Finance it provides for parents, which enables them to pay their children’s school fees while they pay back later.

While there are other educational service startups, School Purse is bringing something different to the table, which is highly laudable.

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