Bengaluru, Karnataka, 24 May 2023: The major challenge which the education ecosystem is undergoing in today’s times is the shortage of funds. Parents and educational institutions have both experienced an interruption in the inflow of income, resulting in a disturbance in the entire ecosystem.
Even though parents wish to provide their children with the best possible education, the rising education fees remains a matter of concern. For education institutions, Fee remains the primary source of funds which has been interrupted during the last few years. This disturbance further hampers their overall operations which eventually reflect on their performance and reputation.
To solve the problem of fee payment, LEO1, India’s leading Fee payment solution provider, has introduced an innovative fee payment model at zero cost zero interest EMI across India. This unique financing model by LEO1 is enabling the institutions to receive a 100 percent fee at the beginning of the academic session and facilitates a no-cost and zero-interest EMI for parents.
Speaking about the expansion, Rohit Gajbhiye, Founder & MD, LEO1, said: “Our vision is to make quality education accessible to the masses. We are getting encouraging responses from the education institutions and parents of Karnataka which further strengthens our expansion plans. We have already tied up with several institutions in key cities of the state and are expanding to other cities too. This facility helps education institutions to get the entire fees at the beginning and they don’t have any shortage of funds to operate. Fee financing has proven to be a win-win for both parents and institutions”.
LEO1 has also launched a LEO1 card which is an innovative approach to digitizing the financial ecosystem in educational institutes across India and creating cash-free campuses. With the LEO1 card, Parents can send money digitally and monitor category-wise usage of the card and overall spending. Students can use it effortlessly to tap & pay institute fees, make payments effortlessly at any retail outlets that use POS terminals, pay online payments just like any other debit card, withdraw cash if necessary from an ATM, and also use it as a student ID card. The LEO1 Card also offers students access to GenZ exclusive discounts and offers and earning 5X rewards for each penny spent using the card. Rewards can be redeemed on leading food-delivery apps, movie-ticketing platforms, travel platforms, and many more.