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.
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.
If you have ideas for collaboration or would like to know more about YES BANK's digital solutions, write to us at firstname.lastname@example.org