Since credit cards have first been introduced in the market, people have become very particular about convenience, ease and speedy credit card transactions. Today, the cashless payment system is also being introduced in elementary schools, high schools and colleges across the United States.
How does this new system work? Instead of the old fashioned mode of lunch payment systems- where students fall in line to reach the cash register and fumble for cash from their wallets or pockets to pay for their food, students simply have their fingerprints scanned and easily check out with their lunch trays. Using biometric fingerprint scanners, their food purchases are automatically debited from their personal student accounts. Other schools use credit card readers, bar-code readers and other devices, just like the ones used in department stores and groceries in handling lunch payments.
According to the May 2007 survey conducted by the School Nutrition Association,- a non-profit group that represents 55,000 school lunch providers in the US, 62% of 1, 200 nutrition directors reported that they're already using the automated lunch payment system or a variation of the system.
Among this group, 4% said they would be implementing the automated lunch system within the next 12 months and almost 11% said they are considering of converting with the new system. In fact, automated lunch payment systems are expected to grow as more and more business transactions are conducted electronically or digitally in various industries.
Automated lunch payments and Students
Schools emphasize the advantages of using student credit cards and other automated payment systems. For instance, this new system eliminates the risk of losing your kid's money because someone stole it or a bully took it. Since kids don't need to bring cash anymore, lost-money incidents are also eradicated. There is also no need to spend precious minutes on the lunch line just to wait for their turn to pay.
Certainly, parents should take advantage of what the new automated lunch payment systems has to offer. For example, in Fairfield High School, Texas, fingerprint scanners are used to track student purchases. This new payment system also gives parents the option to go online and check what their kids are eating. By simply logging in online, parents can track what their kids bought for lunch, what time they bought it, and exactly how much it cost them. As the balances on their children's accounts begin to drop, parents can simply reload their accounts using their own credit or debit accounts.
Of course, parents should also teach kids about the responsible use of student credit cards or debit cards. It's important to let kids know that the balances in their debit accounts are hard-earned money, not an instant source of funding.
Kids should be aware that credit card balances are paid each month to avoid incurring the interest rates and late penalty charges. By teaching kids about these money fundamentals, parents are also preparing their children how to become responsible credit card holders.
About the Author:
Samantha Wilson is a consultant for
credit cards for students. For years she has written
student credit cards articles that would help build student credit. For more info, visit:
www.buildingcreditforstudents.com
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307
Date Published :
Jun 19 2009