Mico goes cashless - ePay to power new system

The MICO University College (MUC) will be eliminating the use of cash on its campus.

Starting tomorrow, the more than 2,000 students enrolled to the 180-year-old institution will enjoy the convenience of cashless transactions at all major payment points on the campus.

"We see this initiative as a natural progression in our bid to offer the best opportunities to our students, the use of technology to automate much of our administrative functions, which will afford a redirection of resources to enhance our performance," said Dr Asburn Pinnock, president of MUC.

MUC administrators have argued that this initiative is an indication that they are ready to introduce technology in all aspects of campus life as they prepare students for the challenges in the real world.

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With their identification cards, MUC students will enjoy a wide range of features and uses, from campus access through to settling payments and making purchases both on and off campus.

The implementation of the ePay cashless school programme is also expected to allow MUC administrators to effectively manage and direct the institutions resources with more control over admissions/registrations, payment and meal management.

ePay technology is owned and operated by Alliance Payment Services Ltd, which is approved by the Bank of Jamaica to operate a prepaid card system.

"Alliance is elated to be partnering with such an important institution as The Mico University College. Our technology will save the university time and money, while providing the security, safety and efficiency that a cashless system brings to an educational institution," said Peter Chin, director, Alliance Payment Services Ltd.

The Cashless School System powered by ePay is the technology solution that:

- Provides and allows for efficient management of financial transactions and resources on campus.

- Allows the tracking of payments and receipts, as well as facilitating online payment of all fees and expenses.

- Optimises administrative hours by removing archaic/traditional tasks related to accepting payments and conducting reconciliations and replacing with an online real-time access to payment activities and reporting.

- Allows for the tracking and management of the meal programmes on campus.

- Improves security on campus by eliminating opportunities for robberies or losing money.

- Improves fiscal audit information.

- Provide options for parents to easily load their child's card from their bank account and allows for better planning and budgeting for both student and parent.