Over 500 educational institutions in India are currently using Cashfree Payments’ payment collections tool. Credit: Redd F on Unsplash.

Cashfree Payments, an Indian payments and API banking solutions provider, has formed a collaboration with eLite Unified Payment Platform (eUPP) to allow parents and students to make safe and instant fee payments at their educational institutions.

Owned by Singapore’s Connexrm, eUPP is an online fee payment management tool for schools, colleges, universities and other educational establishments.

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It has been designed to bring various educational expenses on a single platform as well as help families, students and parents to manage their expenditures associated with education.

Under the new alliance, over 500 educational institutions in India are using Cashfree Payments’ payment collections tool to carry out transactions.

Using the eUPP app, the institutions that are on eUPP’s platform can track their payments collections directly.

Cashfree Payments co-founder Reeju Datta said: “Digitalisation has gained an essential impetus in the recent past, which has also extended to the education sector.

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“As a part of this partnership, we provided eUPP with a powerful and scalable payments infrastructure which cuts down its payment processing time and delivers a better experience to their customers.”

In October this year, Cashfree Payments launched a card issuance stack, called Issuance, which enables businesses to roll out physical and virtual prepaid cards.

Issuance is capable of allowing fintechs and platforms to launch prepaid cards and wallets as well as custom branding and controls, reported various media outlets.