Jamaica’s Mico University College has made the decision to go cashless, eliminating cash tender transactions from all major payment points on the campus. The move will also see the university leverage its campus card for a number of new services.
Per a report from the Jamaica Gleaner, the university’s more than 2,000 enrolled students will now use a combination of personal credit/debit cards and the university’s campus card as part of a new ePay cashless program. The platform will resemble the debit functionality of many campus cards, but marks a first foray into cashless service for the university. Campus administrators believe that the initiative is a step toward introducing new technology across all aspects of campus life.
The campus cards will be used for a wide range of utilities including access, but will also be used for payments and purchases both on and off campus. The implementation of the ePay cashless platform is also expected to allow campus administrators to better manage and direct the institution’s resources and introduce more control over admission, registration, payments and meal management.
The ePay system being implemented is owned and operated by Alliance Payment Services, a body approved by the Bank of Jamaica to operate the prepaid card system. The new cashless platform is expected to:
- Enable more efficient management of financial transactions and resources on campus.
- Allow tracking of payments and receipts, as well as facilitating online payment of all fees and expenses.
- Remove legacy tasks related to accepting payments and conducting reconciliations and instead introduce online, real-time access to payment activities and reporting.
- Allow tracking and management of meal programs on campus.
- Improve security on campus by eliminating opportunities for robberies or losing money.
- Improve fiscal audit information.
- Provide options for parents to easily reload their student’s card from their bank account and allows for better planning and budgeting for both student and parent.