TechProcess aims to target a GTV of Rs 500 crore and 2000 merchants by FY17

By: | Published: June 22, 2016 2:09 PM

Government today extended the timeline for states to join UDAY scheme, meant for the revival of debt-laden discoms, and issue bonds for paying a major part...

TechProcess created Feesjunction to enable educational institutions to offer parents and students more than 185 payment modes of paying fees and other school or university charges anytime, anywhere.TechProcess created Feesjunction to enable educational institutions to offer parents and students more than 185 payment modes of paying fees and other school or university charges anytime, anywhere.

TechProcess Payments, an electronic payments company, has processed approximately Rs 140 crore in Gross Transaction Value and increased the number of education institutes in its portfolio phenomenally in FY16.

“Currently, the education sector is pegged at US $100 billion (INR 6.7 lakh crore). It is poised to witness major growth in the years to come as India will have the world’s largest tertiary-age population and second largest graduate talent pipeline globally by the end of 2020,” said TechProcess Payments in a statement today.

With increased impetus of the Government on the education sector and it’s initiatives like ‘Digital India’ will drive the focus of educational institutes to develop digital infrastructure. In this scenario, schools and universities are likely to invest in digital payment platforms to manage high enrolments and expansion plans.

Kumar Karpe, CEO, TechProcess said, “With a strong focus to resolve payment issues in the education sector, we are happy to play a catalytic role in building a digital ecosystem for the industry by moving its payments from largely cash to digital. FeesJunction, has been launched with an aim to provide a secure and robust payment interface that facilitates education institutes with quick realization of fee collection and efficient payment modes. We are expecting acquisition of around 2000 educational institutes with a gross transaction value of INR 500 crore and a growth of more than 200% in FY17.”

TechProcess created Feesjunction to enable educational institutions to offer parents and students more than 185 payment modes of paying fees and other school or university charges anytime, anywhere.

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