The world is moving towards maximum convenience. Fast fashion, fast food, fast content: Businesses have learned to cope with “I need it yesterday” by making transactions as simple as possible for customers.
The ideal interaction isn’t a process anymore. It’s a single tap or click.
The commitment to seamlessness is crystal clear in when paying for a product or service. In person, we don’t sort through bills and coins at the cash register. Now, we “tap”—sometimes with a credit card, and sometimes with a phone.
The one-step transaction is now standard for digital payments too. After a user inputs their payment information, then they’re free to pounce on those vintage sneakers or kitchen gadgets as quickly as they found them!
Minimal clicks, maximum satisfaction. The ideal customer interaction.
From the Store to the Screen
Customers want to pay online. The number of in-person transactions was tumbling even before now, and the trajectory of 2020 has accelerated an already-booming demand. The number of active accounts with online payment systems has reached figures most e-businesses can only dream of.
PayPal has the biggest hat in the ring. It’s big enough to fill most of the ring on its own, in fact. In April 2020, the household name grew into new territory, with over seven million new active accounts created—that’s a quarter-million new accounts created every day. Business ballooned 135%, and has been consistent across all 250 countries and regions where the company is active.
In the U.S., 99% of students have a PayPal or Venmo account they use at least once a month.
The figures don’t lie: Fast, easy payments aren’t a “bonus” anymore. They’re essential to delivering one-step transactions.
Too many interactions fall through because processes aren’t set up in ways that place ease at the forefront.
Tapping your card on a reader is painless. Clicking “Pay with PayPal” is painless. Schools need to leverage that simplicity and put the student experience first.
Simplifying Payments with PayPal
Any institution that prioritizes the student experience has already staked its claim: Students are happier, and operations run smoother when the back end simplifies the front end.
PayPal’s effortlessness serves its users well. That’s why Destiny Solutions has partnered with them to integrate Destiny One with PayPal’s payment system. Together, we’re helping schools deliver a seamless experience across the student lifecycle.
If enabling another payment method in addition to your current credit card gateway sounds taxing, don’t worry. Destiny Solutions and PayPal have made the process of enabling PayPal as straightforward as possible. Schools can expect a personal point of contact with PayPal should they need to reach out, and there’s even a brief guide for you here.
Enabling PayPal won’t replace your other payment methods. Whatever system your school had in place prior to the integration will remain perfectly functional. Instead, it will add an additional layer of convenience for prospective students looking for simplicity.
Here’s how PayPal can help your school create a payment process that saves money and makes digital payments easy for students.
More Than Petty Cash
Paying to receive payments is a headache for any e-business, and PayPal seem to agree. From now until August 15th, 2020, Destiny One users who switch to PayPal will receive a fixed rate at or less than what they’re currently paying in card processing fees indefinitely.
For most businesses, the average rates for online or keyed-in card payments range from 2.3% to 2.5%. PayPal have lowered that rate to just 1.9%, plus a fixed fee of only 30 cents per transaction.
For most businesses, the average rates for online or keyed-in card payments range from 2.3% to 2.5%. PayPal have lowered that rate to just 1.9%, plus a fixed fee of only 30 cents per transaction
While 0.6% is negligible for small purchases, it can really add up for divisions pulling in six-figures or more each year. Those kinds of savings can drive significant investments in future growth.
What’s more, PayPal is offering to match your card processing costs if you can provide documentation that your current processing rate is below their offered rate.
Until August 15th, Destiny One schools that sign up with PayPal are also eligible for significant cash incentives over and above the savings already on the table.
Fast for Students, Easy for Staff
The single-touch payment process doesn’t just make purchases easier. Knowing you’ll have that product at your fingertips at a moment’s notice (not three forms later) makes the purchase more attractive. It’s core to PayPal’s practice, and schools that integrate PayPal with their payment system reap the rewards.
Delivering a modern customer experience is central to the success of colleges and universities today, and a poor customer experience can translate to enrollment loss.
“If I have angry students, we have to talk them off the ledge, calm them down and then get them registered for a class,” said Bob Peterson, President and CEO of the Corporate College at Cuyahoga Community College. “How many people don’t call and just walk away and go to another college to take a workforce training non-credit class?”
Delivering that modern customer experience is one of the central reasons why many Destiny One customers chose to partner with Destiny Solutions in the first place—and it tends to reap quick results for client schools!
“In less than six months, we’ve seen an increase in the number of students that are registering online using Destiny,” Peterson said in an interview with The EvoLLLution. “In that time, our online registrations have grown 52 percent over the same period the previous year.”
The call for more user-friendly service is only getting louder, and postsecondary leaders should take a page from the Amazon playbook: Build payment processes around what’s easiest for the customer. A seamless experience can be the conversion point for many prospects, so it’s crucial to cover every crack.
PayPal smooths things over on both ends of the transaction. Not only does the student enjoy a perfect digital experience, but administrators can enjoy centralized payments and faster workflows.
We’ve consolidated payment management too, and have put all your payments in one place. PayPal and Credit Card payments can be managed through your Destiny One platform for seamless back office workflows, so staff won’t need to sift through different programs looking for the same information.
With more time on their hands and money in their pockets, students and schools share the benefits of a more accessible payment system.
More Money, Less Hassle
PayPal’s integration with Destiny One is another leap towards that perfect customer interaction. Students get to pay for their program as easily as they’d pay for a Coke, and schools aren’t wringing their hands over hefty processing fees. Both parties can spend a little more time and money on more pressing matters.
Destiny One users understand that a good digital experience paves the way for positive and lucrative relationships with learners. Enabling PayPal Checkout is another brick in that wall, and helps schools deliver the consolidated experience those learners expect.
Integrate Destiny One with PayPal Checkout in a few simple steps with our short guide.