What is a K-12 Digital Wallet?

In 2018, the mobile payment app leader wasn’t PayPal or Venmo, it was Starbucks. The non-payment giant was able to bring digital wallets to the masses with the promise of an easier Frappuccino purchasing experience and top-notch rewards program.  

Mobile payment options like digital wallets and cash apps are expected to surpass cash and credit cards by 2022, placing them second to debit card transactions. Consumers are using these payment methods for everything from Etsy small shop purchases to DoorDash deliveries. But could they be extended to K-12 schools? 

Payment apps could be used for everything from tuition and field trip payments to school lunches and the school store. You could have a cashless school where all payments are contactless payments. 

So, how do you choose a payment app for your school?  

Modernizing the Right Way: Payment Apps for K-12 

You know your school can’t use the Starbucks app (though wouldn’t that be a nice way to earn stars), but what about the industry giants like PayPal and Venmo? Everyone knows how to use those, so it seems like a natural choice. 

The issue with these wallets is that they aren’t designed for school payments. They’re designed for retail and quickly sending money to family and friends, and they’re great at what they do. A school requires a system that is a bit more robust and involves fewer emojis as payment descriptions. 

A K-12 Digital Wallet

MySchoolWallet by Diamond Mind is the premier K-12 digital wallet designed to improve school and family experiences with smart workflows, intuitive design, and faster payment processing.  

Here’s how we stack up against the competition: 

What are you waiting for? Bring your school into the modern age of contactless payments with MySchoolWallet. We can’t earn your next latte for you, but we can give you a cashless school and happy families. 

Request a demo today.