CashOut refunds in schools
“Since implementing CashOut, the time we have saved is invaluable. But the improvement in the service levels we can deliver to parents is even more important.”

Clint Wilson,
Chief Executive, ParentPay Limited

What was the challenge?

Previously, schools have had to make cash or cheque refunds to parents, where those parents had paid in cash, either directly in school or via PayPoint. This is costly and time consuming. ParentPay wanted to help schools with an easier way to process refunds to parents in cash based families, or those that had previously paid in cash.

ParentPay also wanted to reduce the administrative burden on their finance team, in supporting parents wishing to make withdrawals from their ParentPay Account where there is not a valid bank card that can be refunded against.

What was the solution?

The first phase of offering this solution allowed ParentPay to use CashOut payments to refund PayPoint payments, for example when a school trip is cancelled, or for a dinner money balance remaining at the end of term.

This option frees schools from the burden of handling cash refunds when parents have paid via ParentPay. The CashOut solution is a simple and cost effective way to issue cash credits to parents and speeds up the time in which parents receive their money.

Schools can now issue a unique voucher via email, letter or SMS which can be redeemed at any PayPoint store across the UK. This allows instant access to cash rather than having to wait for cheque clearance and allows schools a quick and convenient way to reimburse parents.

Eventually ParentPay hope to extend the solution to enable refunds no matter what the original payment method was, supporting schools in becoming completely cashless.

The result

ParentPay has vastly improved efficiency for schools; being able to offer CashOut payments often means parents receive their money sooner.

Their finance team has been able to significantly reduce the administrative burden and time spent processing withdrawals for parents with no valid bank card attached to their ParentPay account. In fact, the time taken to process each withdrawal has reduced by 50%.

In the next phase, ParentPay will be able to extend the solution to school offices, allowing schools to refund parents no matter what the original payment method.

“As the pioneers in creating cashless schools, ParentPay has worked with PayPoint for more than 10 years, providing a socially inclusive payment option for our schools and families.

We knew the PayPoint retail network of 28,000 stores met our needs and were confident we would benefit from the excellent service levels we have enjoyed since we started working together. Implementing the MultiPay solution was a natural extension to our relationship.”

Clint Wilson,
Chief Executive, ParentPay Limited

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