DOMESTIC STUDENT REFUNDS
Want to Eliminate the Friction with Canadian Tuition Refunds?
PayMyTuition has integrated the Interac bulk payment solution to allow for the efficient processing of domestic refunds when working with student information systems including Colleague.
Institutions can automatically create a Bulk e-Transfer file and upload it for immediate processing. Once completed institutions will be debited for the total amount of the e-Transfer file and a notification message will be automatically generated and forwarded to each recipient by email or text message.
Upon receiving the notification message, the recipient can click on the link within the notification to connect to their bank and claim their refund payment through e-Transfer.
To access this e-Transfer a unique password is required. This password will be generated on Colleague student self-service page and used as the answer to the security question for each individual e-Transfer before the payment can be claimed and deposited.
For the institution, initiated e-Transfers can be cancelled at any time before it is successfully claimed by the recipient. PayMyTuition also offers comprehensive reporting on the statuses of all e-Transfers sent which institutions can access at anytime.
Benefits and Features
Payment Hub offers a smarter way to capture complete and accurate payment instructions from your end beneficiary using automation and cloud technology.
Payment Hub greatly diminishes the number of returns and investigations associated with international payments.
Institutions can utilize Payment Hub to convert paper cheques to electronic payments, register vendors more quickly and accurately, and automate the collection of large volumes of data more securely.