Streamlining international student refunds: Transact launches new automated refunds solution

In an era of ever-advancing technology, it is crucial for educational institutions to stay ahead of the curve when it comes to administrative processes. Recognizing the challenges faced by school administrators, Transact Campus has developed a cutting-edge solution to simplify the complex task of processing international refunds. With the introduction of Transact International Payments Automated Refunds, schools can now offer students a simplified experience while reducing the burden on their administrative staff. Keep reading to learn more about the features and benefits of this innovative solution, highlighting how it streamlines operational processes for administrators, parents, and students. 

Understanding the need for automated refunds  

The development of Transact International Payments Automated Refunds was prompted by an increasing demand from school administrators. During peak tuition payment periods, administrators often find themselves understaffed and overwhelmed with manual refund processes. This solution aims to alleviate these challenges by helping administrators process refunds quickly, securely, and easily. By integrating the refund procedure into their existing Student Information System, administrators can save time and ensure a hassle-free experience for students. 

Transact's automated refund solution revolutionizes the refund process for administrators, parents, and students alike. Administrators can now process refunds at the click of a button, thanks to the integration of international payments technology. Once a refund is initiated, students receive an email notification with all the relevant details, providing them with peace of mind that their money is securely on its way back to their bank account. By automating these steps, Transact eliminates manual interventions, reducing the administrative burden on school staff and enhancing operational efficiency. 

"Transact is the first to offer automated refunds for International Payments. This new functionality is a key competitive differentiator, available exclusively to our clients,” said Peter Scharnell, Senior Director of Payments Product Management at Transact. 

Transact International Payments Automated Refunds was officially rolled out this past quarter. This release includes the new refund functionality, which will be made available to all clients utilizing the Transact International Payments solution. By incorporating this feature into the existing suite of Transact solutions, schools can seamlessly integrate automated refunds into their existing payment processes. 

Simplified refund processing: Step-by-step 

Transact’s new solution enables administrators to process international refunds directly through Transact Integrated Payments' Cashiering module: 

• A dedicated "Refund" button streamlines the process, ensuring a straightforward experience for administrators.  
• Once the refund is submitted, an email notification is sent to both the customer and the requesting operator, providing clear communication and transparency throughout the process.  
• The refund data is reconciled and easily integrated into Transact Integrated Payments' reporting module, facilitating efficient reporting and record-keeping. 

Transact’s new International Payments Automated Refunds solution is a game-changer for all our clients. By streamlining the refund process, this innovative solution enhances operational efficiency, reduces administrative burdens, and ensures a seamless experience for students. With a focus on continuous improvement and client-centric innovation, Transact solidifies its position as a trusted partner for schools and universities, providing state-of-the-art payment solutions to meet the evolving needs of the education industry. 

"By continuously listening to our clients’ needs, reimagining solutions, and innovating in the payments space, Transact remains committed to providing cutting-edge solutions that meet the complex requirements of schools and universities,” Scharnell said. 

To learn more about Transact's new International Payments Automated Refunds feature, please visit our website or contact your Transact client representative.