Rosie Slaughter, Senior Growth Manager at Monoova, shares her own experiences with childcare payments and how Monoova can address the current challenges faced by centres.
As the mum of a small human in daycare, and a payment industry professional, I fully appreciate how annoying it must be, to a centre, when a family’s direct debit bounces for the week. Even more annoying is that it has happened to us three times in a year… (I hold my partner entirely responsible for the monitoring of that account).
I work in payments, we have the money to pay the fees, yet the account we’ve set it up with isn’t an everyday use account, so we’ve been hit with three separate lots of (extortionate) dishonour fees totalling $60. Probably almost equal to the cost of the fresh fruit said small human eats in a week.
We are just one family making an innocent mistake (three times); as a company we know just how often this happens (we see the numbers) and the impact it has on cash flow and accounting resources. We know dishonours are expensive, burdensome and the ongoing issues that arise from them.
Wouldn’t it be nice to do something about them…keep reading…
Efficient financial management is crucial in all sectors but particularly when it comes to recurring billing. Childcare centres face unique challenges; families opt for a wide array or payment terms – they might wish to pay every week, every two weeks or monthly. Having a fast and smooth-running process is crucial to the successful running of any centre.
As quickly as our kids are growing (honestly, I’m sure mine was born about 7 minutes ago, how is she starting to talk?!) technology and the payments industry is evolving. Embracing these changes will be key to modernising processes and keeping childcare software management partners ahead of the game.
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Monoova: Pioneering Payment Solutions in Childcare
Our Payment Solutions
Enter Monoova. We are here to address the unique payment needs of the childcare sector. Our solutions aim to simplify the recurring billing process for childcare payments; offering cost-effective options, reduced administrative burdens, and improved cash flow management.
We understand the requirements of centres, supported by some fantastic management software platforms, and we seek to provide enhanced offerings to update and modernise payments processing with our API driven solutions.
By adopting our agile payment technology, we can connect you to all of Australia’s payment rails and support your recurring billing journey. Often in this space that might be from traditional direct debit to PayTo, which are real-time direct debits. As the significant leader in the PayTo space (64% of all PayTo transactions to date), we are well versed in how to ensure you have the best success in this next step.
Local Support
Our local teams based in North Sydney are here to support you from initial contact through to integration completion and go live. We can walk you through best practices for moving from one process to another that is tailored to each centres needs.
If you’d like to find out more about our automated and flexible billing, that you can customise to suit each family’s billing needs, discover how Monoova can transform your childcare centre’s payment processes. Connect with me here.
