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Nirma University becomes cashless

Author - YES BANK

Highlights

  • Nirma University is one of India’s leading universities based in Ahmedabad, Gujarat
  • The university has partnered with YES BANK for automation of its fees collection process
  • Over 8,000 students across the university will benefit from this innovative digital solution

YES BANK’s Solution

As part of digitization, every student is issued a unique virtual account number. Students can transfer their outstanding fee amounts to their respective virtual account number with the help of NEFT, RTGS, UPI or IMPS from their respective bank accounts. On successful completion of transaction, money gets transferred to YES BANK’s E-Collect account. The transfer is validated by the BANK via Nirma University’s ERP system in real time with the help of API Technology. On successful validation, the money gets instantly credited to Nirma University’s bank account. If there is a failure in transaction, the amount gets refunded to the bank account of the student.

Impact of the Solution

The API based E-Collect solution has changed the reconciliation process from manual to automated. The tedious validation process done at the backend by the administration is now hassle free due to automation. The students are saved the trouble of standing in long queues to pay fees as they can now use mobile application or desktop methods to carry out the transaction.

Stories of Transformation

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Govt. of Maharashtra expedites salary payments to health workers by going digital
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Education
Nirma University becomes cashless
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Healthcare
A hospital in Himalayas goes cashless- AIIMS Rishikesh
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Financial Services
Make mobile payments without a smartphone and internet
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Smart Cities
Ease of Payments for residents of Udaipur Smart City
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Travel and Hospitality
API technology automates collections from 8500+ travel agents across India
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API technology enables real-time banking for Foreign Inward Remittances
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E-Commerce
E-commerce companies can now make refunds to customers instantly
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Reach Out To Us

If you have ideas for collaboration or would like to know more about YES BANK's digital solutions, write to us at techforchange@yesbank.in

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