Transforming Tuition Payment Systems: Finpay Strengthens Financial Ecosystems for Educational Institutions

The practice of manual cash management in educational institutions is increasingly being abandoned. Conventional processes such as keeping separate cash books, physically counting banknotes one by one, and issuing physical receipts are now considered to consume significant time and energy for school administrative staff. Not only does it trigger operational uncertainty, but storing cash from tuition fees and building fund payments on school premises also carries high security risks. Schools are vulnerable to miscalculations, misplaced money, counterfeit currency, and potential loss of funds. Manual recording into ledgers or spreadsheets is highly prone to data discrepancies. Furthermore, manual bank transfers without clear documentation often leave finance staff struggling to identify the source of the funds. On the other hand, parents face the inconvenience of having to queue in person at the school cashier’s office during working hours.

Addressing these challenges, Moch. Wasiul Hakim, VP of Financial and Transportation Services at Finnet Indonesia (Finpay), stated that the adoption of financial technology is now a priority for modern school management. The presence of an integrated digital payment platform, provided by Finpay (part of the Telkom Group), is a key driver of real-time bookkeeping automation. ‘Through this integration, every tuition payment transaction is automatically recorded into the school’s cash system. School leaders and parents can monitor transaction histories transparently and accurately,’ Hakim said in a statement on Wednesday, 29 July 2026.

Finpay provides various popular payment channels, including Virtual Accounts from multiple banks, QRIS, e-wallets, internet banking, and minimarket counters. Additionally, an automatic notification feature via WhatsApp helps parents avoid missing payment deadlines without the need for uncomfortable manual reminders. The payment system is also directly connected to the Academic Information System (SIAKAD). ‘This facilitates automatic validation of financial obligations for re-registration, printing exam cards, and accessing student report cards,’ he added.