The Evolution of Payment Technology in Childcare: Embracing the Future with Monoova

January 25, 2024

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.

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.

Disclaimer

Monoova Payments Pty Ltd (ABN 38 126 015 227) trading as Monoova (“Monoova”) is the authorised representative of Monoova Global Payments Pty Ltd (ABN 77 106 249 852; AFSL No. 421414 ), the issuer of the Combined Financial Services Guide & Product Disclosure Statement Non-Cash Payment Products and Services dated 20 September 2023. (FSG/PDS). This information is given in summary form and does not purport to be complete. To the maximum extent permitted by law, Monoova does not assume responsibility for, the content, accuracy or completeness of the information presented. Before acting on any information you should consider the appropriateness of the information having regard to these matters and seek independent legal, financial and tax advice. To the extent that the information contained above is sourced from third parties or provides link to third party websites, Monoova takes no responsibility for the accuracy, currency, reliability and correctness of any information included in the material provided by third parties nor for the accuracy, currency, reliability and correctness of links or references to information sources (including internet sites) operated by third parties. To the extent that the information contained above is sourced from third parties or provides link to third party websites, Monoova takes no responsibility for the accuracy, currency, reliability and correctness of any information included in the material provided by third parties nor for the accuracy, currency, reliability and correctness of links or references to information sources (including internet sites) operated by third parties

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