Payments for online learning platform
Payments for online learning platform

Payment features that will take your online learning platform to the next level

The e-learning segment has grown astonishingly in Brazil over the years. According to the Associação Brasileira de Educação a Distância (ABED), there are over 9 million online students in the country. Further, in 2019, for the first time ever, the number of online available positions for higher education surpassed in-presence available positions.

These numbers are likely to increase as connectivity in Brazil becomes more widespread, with 71% of internet penetration in the country. Not to mention that, with the Covid-19 pandemic, studying online has become not only an alternative but an opportunity to expand knowledge, even while quarantined at home.

 

E-learning segment grows in Brazil during Covid-19 pandemic

With more time on their hands, internet users have been registering for digital classes during the isolation period. Research carried out by NZN Intelligence showed that 40% of interviewees ages 18 to 34 had considered enrolling for digital courses.

But while the coronavirus outbreak has indeed pushed forward the e-learning segment, this newly acquired habit for some internet users will most likely outlive the pandemic. Once activities are resumed normally and in-presence classes are no longer restricted, e-learning will remain as an alternative for students who have busy schedules, live in restricted areas, or look for affordable access to education. In addition, the digital environment is also helpful for in-presence courses, as students may access content, tasks, and grades, and manage their academic lives online.

Providing resources that facilitate payment helps enable quick and easy enrollment in digital courses at even higher-level education. In addition, it also allows students to stay up to date with their monthly financial commitments, avoiding dropouts. We have listed below the top payment features that enhance the online experience for students. Check them out!

 

Four payment features your online learning platform must offer

Whether you are a school or university offering online courses, an EdTech company, or an e-learning marketplace platform, enhancing your students’ payment experience is an important step to both increase conversion rates and avoid dropouts.

When it comes to Brazil specifically, payments play a huge role in access to online education. Because of the high rates of cash reliance, offering alternative payment methods helps more people register for courses, democratizing both payments and education.

Here are four essential features you should offer your online students:

Alternative payment methods

Did you know that 45 million people in Brazil do not have a bank account? In addition, cash is the preferred payment method for over 70% of the population.

Payment methods that enable cash payments for online purchases, such as the boleto bancário – the second most used payment method in Brazil – and PEC Flash® are important drivers to reach more potential users of your online learning platform.

In addition, offering installment payments is also an interesting alternative for courses that cost more, as this allows students that do have access to credit cards to flexibly pay for their purchase.

Recurring payments

Charge your students periodically with recurring payments. This option allows you to charge automatically on credit cards, offering your students more convenience. In addition, it is also a better alternative to installment payments for yearly subscriptions to your online learning platform or to courses with a higher value, as it does not compromise their credit card limits by charging the full amount at once – even if the payment is divided into installments.

Of course, to offer this feature, your business must meet a series of requirements in order to avoid refunds and chargebacks. This includes:

• Offering clear information concerning billing arrangements and charges.

• Notifying your customers by email before charging.

• Providing easy access to customer support.

• Offering the possibility to cancel recurring payments.

• Providing immediate billing discontinuation.

By meeting these requirements, users from your platform benefit from a frictionless payment experience, without compromising their credit card limits.

Payment reminders

If the user does not opt for recurring payments and misses a payment due date, then providing payment reminders through email and SMS are essential features to guarantee they will continue using your e-learning platform. This helps with new admissions and also keeps students from dropping out due to payment issues.

Payment link

The payment link is an interesting alternative for both online platforms and in-presence institutions, as it requires no technical integration and enables immediate payment processing.

You can send a payment link with all the available payment methods to your students via email, allowing easy online payments and also creating second conversion opportunities for those who are considering applying to a new course.

 

Bonus tip: payout solution for online learning marketplace platforms

If you are an e-learning marketplace platform, then enabling a payout solution is fundamental so you can pay service providers that use your platform. This simplifies the payment flow, maximizing efficiency, and avoids double taxation. Learn more about payout solutions here.

E-learning is a big trend in Brazil; with 150 million internet users in the country, 94% owning a smartphone, these online platforms are helping democratize education. However, providing easy, flexible, and inclusive payment solutions ensures more Brazilians are able to access this high-quality content.

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