PayMyTuition is introducing biometric authentication to help secure tuition payments. The new feature is specifically designed to protect international tuition payments, and will use facial recognition to verify the identities of the people sending and receiving those transactions.
Academic institutions that decide to take advantage of the new technology will be able to integrate it into their existing payment channels using a real-time API. The solution is compatible with most of the major student information systems, including Banner, Colleague, PeopleSoft, Workday, and Jenzabar.
PayMyTuition itself is an MTFX Group subsidiary. The company is currently rolling out the technology for its client base, and expects to deliver it to numerous academic institutions in North American over the course of the next 60 days.
“Utilizing biometric verification to identify senders and beneficiaries is a highly secure way to prevent fraud in payment transactions across borders,” said MTFX Chief Market Strategist Arif Harji. “We need heightened security measures when it comes to our institutions accepting funds overseas and this technology provides a streamlined experience for the student while ensuring our partners are protected when accepting and processing international payments.”
The new facial recognition solution will offer greater transparency in addition to greater security. For example, academic institutions will be able to use the platform to view student information and check on the status of any payments.
Of course, PayMyTuition is not the only company trying to leverage biometrics to improve the educational process. CourseKey recently announced that users can now use face and fingerprint recognition to sign into its online attendance platform using a mobile device, while Examity uses behavioral biometrics to ensure the integrity of the online testing process. The latter has been steadily gaining traction in the past few months, and has built a roster of clients that now includes UC Davis, Texas A&M, and Indiana University.
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May 20, 2020 – by Eric Weiss
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