The MICO University College (MUC) will be the first tertiary institution to eliminate the use of cash on its campus. As of this month, over 2000 students enrolled to the more than 180 year old institution will enjoy the convenience of cashless transactions at all major payment points on the campus.

We see this initiative as a natural progression in our bid to offer the best opportunities to our students, the use of technology to automate much of our administrative functions which will afford a redirection of resources to enhance our performance,” says Dr Asburn Pinnock, president of institution.

“It shows that the college is committed to the use of technology in all spheres of school life,” he added, pointing out that other forms of technology-driven infrastructure are already in place at the school’s library and other areas.

Dr Pinnock said, too, that ePay fits with the ministry’s strategy to transform the education system and forms part of the school’s thrust to become a “smart centre of technology”.

MUC students will enjoy a wide range of features with the ePay facility, from campus access to settling payments and making purchases both on and off campus. The implementation of the ePay cashless school programme will also allow administrators to effectively manage and direct the institutions resources with more control over admissions/registrations, payment and meal management.

The move, the university college said, represents a commitment to the introduction of first-world technologies to the organisation where students gain the experience of electronic transactions and the use of Internet reports to better manage budgeting, spending and saving.

ePay technology is owned and operated by Alliance Payment Services Ltd and is approved by the Bank of Jamaica to operate a pre-paid card system. There are over 18,000 cardholders using the technology to pay bills, buy food, groceries, call credit etc. The technology is customisable and provides users with access to their accounts and reports of their expenditures online at any time.

“Alliance is elated to be partnering with such an important institution as The MICO University College. Our technology will save the university time and money, while providing the security, safety and efficiency that a cashless system brings to an educational institution,” said Peter Chin, Director, Alliance Payment Services Ltd.

The company’s projects manager, Stacy-Ann Jarrett, said the programme will, among other things, improve fiscal management, allow for the tracking and management of meals, and improve student security by eliminating opportunities for theft or loss of money.

At the launch of the initiative last Wednesday, Education, Youth and Information Minister Ruel Reid endorsed the move, saying he supports any “honest and locally relevant measure that would enhance efficiencies in the education system.

The Mico University College is setting an example for other teachers’ colleges by implementing this cashless system. This is the way of the future,” he said.