How do Daycare Payments Work?

Australia is considered one of the most expensive counties in the world when it comes to childcare costs. In fact, Australia is one of four counties where couples spend more than 30% of their income on childcare fees. And with the rise in living costs and the worsening rental crisis–times are tough! With the amount of financial pressure weighing on parents, it can be difficult for them to pay their childcare fees on time. But how do daycare payments work and how can a daycare payment system, like Biz Core, help your business get paid on time?

Why is daycare so expensive?

Childcare costs have skyrocketed over the last 10 years. Though this increase is partly due to the rise in living costs, the main factor is regulatory changes. There have been improvements to educator-to-child ratios and mandatory educator qualifications. While this raises the quality of care provided, this also raises the operational costs and this has a knock on effect for childcare fees–-making them more expensive.

What is the best payment method for daycare fees?

The best payment method will ultimately depend on each individual parent/carer. Good payment methods should be reliable, traceable, and simple. For these reasons, cash is not the safest or most effective method, and often payment methods like direct debit or credit cards are superior.

Direct debit in particular is one of the best payment methods for regular payments like childcare fees. It’s safe and allows businesses to set up recurring payments that reduce the amount of missed and late payments.

Choosing a payment platform like Biz Core will allow you to set up direct debit payments in 3 easy steps. Biz Core also offers built-in data protection to keep customer information safe and payments secure.

Why is a versatile secure payment system so important?

Confidentiality is vital for any business that manages payments and handles customer information, but it is particularly important for children and families. So along with processing payments securely, it’s important to ensure it also offers state of the art data protection.

Biz Core understands the importance of protecting sensitive customer information. Which is why our payment platform built-in security controls and real-time global cybersecurity intelligence.

What Biz Core can do for you

Childcare is an important service that more one million Australian families use. It allows parents and carers to enter the workforce with confidence that their children are appropriately cared for. And while children are the most important part of childcare services, it’s still important to remember that, ultimately, it is a business like any other. This means that along with qualified educators, daycare providers also need efficient tools to manage their business.

Biz Core offers a versatile solution for businesses that allows them to manage their payments, administrative tasks, and customer records.

Biz Core’s system allows businesses to:

• Log, store, and manage customer information, including enrolment dates
• Protect customer information with built-in, multilayered Microsoft Azure Cloud Security
• Track payment histories, including; successful payments, failed payments, and overdue accounts
• Choose payment schedules from weekly, fortnightly, to monthly
• Make receipts, reminders and notices automated
• See how your business is performing at a glance with reporting capabilities and easy-to-use dashboards
• Record and monitor customer interactions
• Easily upload, send and store documents, including e-signature documents

Get paid on time every time with Biz Core! We’ll make it easy for your customers to make regular payments so that you can stress less and focus on what’s important.

Contact us today to find out how we can help your business succeed.