Cashless Universities
Benefits to Students
Counting cash can be done quickly digitally; therefore, students enjoy faster services.
Students will be able to make payments on their own time without making a physical appearance in school.
Students’ cashless payments will have a low cost. There are various payments applications and digital wallets that neither charge any service fee nor undertake process fee for any service given.
Students might receive waivers, cash backs, and discounts that will act as benefits to students and a motivation factor to have a cashless transaction.
Benefits to Universities
Digital Payments allow institutions to request, collect and record payments from students in a far more accessible and more efficient manner; this significantly reduces the cost and environmental effect related to the use of a large amount of cash.
Cashless Payments also allow universities to be time conscious since there will be no time wastages when physical collection and chasing student cash payments.
Universities can also cut down on administrative costs as well as operations cost significantly by executing cashless payments in their ecosystem.
Digital Payment Services
JoMoPay gives a secure and new means of electronic payments using mobile wallets. This will enable the Jordanian Universities and students to use their mobile phones to pay bills, direct purchases, and transfer money from one person to another.
EfawateerCOM will also be helpful in checking any due bill amount and for paying the outstanding amount. This service will enable students and universities to have the ability to inquire and make payments to an extensive range of billers without a hassle.
How CLiQ works
Amidst the Covid-19 pandemic on June 2020, CLiQ, an instant payment system, was launched in Jordan by The Jordan and Clearing Company (JoPACC) to allow instant money transfer between bank accounts in all the banks that participated at no cost, banks include Arab Bank, Bank of Jordan, and Etihad Bank, among others that incorporated CLiQ. The introduction of this service made work more accessible as it integrates into other banks’ mobile applications, facilitating students’ smooth and direct access to banks. Its services range from return payment, request to pay, instant money transfer, among others. The primary function of CLiQ is to enable the flow of cash between accounts of receiver and sender instantly. This will increase efficiency by maximizing the use of DPS while minimizing the reliance on traditional cash transactions.
Introducing the concept to the university and students
JoPACC will present the idea to universities and students by designing a program for each implemented experiment in consultation with the relevant partners.
Dividing roles in coordination with university staff and workers to lead an assessment project.
Coordinate One-on-one meetings, which then a follow-up will be done to ascertain the outcomes.
Universities will put a policy in agreement with JOPACC by introducing CLiQ services to students in different places like cafeterias, banks, and the library.
However, the concept will still be new, and its usage will be expected to rise in digital liquidity, thus enhancing students’ experience the cashless transactions. The product awareness will be achieved by JoPACC working closely with its partners to reach more audiences, especially university students . This will be done by maximizing their benefits to students and other users and activate more engagement. Step-by-step guides will increase content’s easiness through videos, increasing the users’ and students’ attention.
Re-write the section uploaded to make it more directed at Universities , and how cashless universities could benefit and advance that sector .
Write a concept note to present to the professor , write about the services mentioned and how they can help.
