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Increase revenue from Library fines and fees

The need to meet student expectations is now more important than ever and encompasses the whole university or college, especially when the expectations centre on easy ways to pay and easy ways for students to manage their campus spending. Offering a cashless campus contributes positively to the whole student experience and has been show to benefit the university or college by increasing on campus spend by up to 20%.

To meet these expectations in your Library environment there is a clear need for a sophisticated payment solution that makes paying fines and fees quick, easy and simple with that 24/7 availability that students crave. Offering a cashless Library as part of a wider cashless campus is a key way this can be achieved.

Using a central account with funds managed by a transaction management database like MonitorIT’s SupervisorNet, allows students to pay Library fines and fees via a web portal 24/7. This is particularly useful for distance learning students. Students can create and email themselves statements of activity costs from the Library such as paid fines, printing or copying done or PC bookings made.

To further enhance the users experience self-service reload kiosks can also be deployed at key locations in the Library areas and integrate using the 3M SIP2 protocols. Here funds can be added using coins/notes or a card payment (debit/credit) or alternatively a student card, where the funds would again be held in the central transaction database.

From the organisations perspective cash handling is much reduced and any payment workflows between the Library and Finance department are improved as manual inputs and cash reconciliations are now integrated and automated. Banking requirements for paying in cash are also less onerous.

Electronic payments either via EFTPOS terminals, an online portal or reload kiosks and made using funds held in a central transaction database improves the student experience, and supports a Library self-service strategy. Now fines and fees are easy and simple to pay revenue will increase and the amount of outstanding fines and fees will decrease.

If you would like to know more about how to achieve a cashless Library or an overall cashless campus please call us on 01494 565066 or visit our website www.monitorit.co.uk

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