Digital payments in today’s world are no longer just about convenience, but a way to stay safe. Pay-by-app platforms have been garnering exponentially greater usage because of our mobile-native world, but the growth is skyrocketing given a recent statement by the World Health Organization, who is reportedly encouraging people to use as many digital payment options as possible in the wake of the coronavirus crisis.
It’s been a known fact that cash has the propensity to be extremely dirty – as recently shared in a PLOS ONE study that highlights the hundreds of species of microorganisms found in physical currency. The most commonly found microbes cause acne, as well as plenty of skin bacteria.
As reported by the Telegraph, the WHO has stated it is “advisable to use contactless payments to reduce the risk of transmission.”
As the importance of social distancing and working from home becomes more prevalent, campuses consider how to create more accessible, convenient, and safe options for everyday services and activities, digitizing the way we receive and track payments is crucial. Whether it’s digitizing financial tracking in order to limit the required documentation that finance teams need to review physically, or enabling refunds digitally without requiring students to come on campus, there are many benefits to moving payments online.
Working with campuses around the globe to implement their campus and student organization Marketplaces, we’ve seen the impact that digitizing student-life transactions can have: from convenience and safety to sustainability and cost savings. If you’re interested in digitizing the commercial activities of your student organizations, learn how Modo Marketplace™ can enable your universities to facilitate student-to-student, organizational, and campus-wide commerce, making digital payments and reporting simple and secure request a demo.