Modern times call for modern approaches to just about everything, including child care payment.
The days of keeping the books by hand and expecting to receive payments in all cash are gone. Child care centers stand to benefit from updating their payment structures to allow parents to pay with a smooth and easy electronic process.
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There are a number of ways that payments can be made electronically. Here are 5 approaches that are practical for child care centers:
1. Credit and Debit Card Payments
There are many online services that allow a business to set up a profile and account to accept credit and debit payments.
When it comes to choosing the right payment platform for a child care center, the most important factor is finding an established and reputable service.
2. Bank Transfers
Another fast and easy way for child care centers to collect electronic payments is to set up bank accounts. Parents are provided with account details so that they can transfer money directly from their own banks.
3. eChecks
Some parents may still be in the habit of writing checks. Accepting eChecks allows parents to pay with a familiar format in electronic form. They are deposited into the child care center bank account in the same way as a direct transfer.
4. Paypal
Paypal is a highly popular online payment platform. It can be connected to both credit and debit cards and bank accounts. While using Paypal is essentially the same as receiving payments from bank accounts or cards, parents may feel safer using a world-trusted transaction platform.
5. Online Payment Agreements
Most types of electronic payment method facilitate the ability to create online payment agreements. This way, parents can decide whether they want to pay on a weekly, monthly, or even yearly basis, and have payments deducted automatically.
The best way to determine which electronic payment approach is right for a child care center is to poll parents about what methods they already use and what they feel comfortable with.
