3 Ways to Bring Classroom Funding Into the Future With a Digital Wallet

Digital wallet services are changing the way individuals transfer funds. Personal spending is becoming increasingly digital. Companies have been pioneering digital wallet technology for personal payments since 2011, with Google being the first major corporation to offer mobile wallet technology. Now, these highly secure online payment tools are making their way from our personal lives … Continue reading “3 Ways to Bring Classroom Funding Into the Future With a Digital Wallet”

New Hampshire’s Department of Education Picks ClassWallet to Administer its ReKINDling Curiosity Program

Innovative Program to Use Federal Funds to Help Children Attend Summer Camp Programs in Order to Shake Off Social, Emotional and Mental Stresses Caused by COVID-19 Disruptions MIAMI and CONCORD, N.H., April 13, 2021 – The State of New Hampshire’s Department of Education has selected Miami-based ClassWallet to administer its highly innovative ReKINDling Curiosity Program. The program … Continue reading “New Hampshire’s Department of Education Picks ClassWallet to Administer its ReKINDling Curiosity Program”

The Money Movement Channels in Schools: A FinTech Discussion for School CFOs

ClassWallet had the opportunity to sit down with Wayne Brown of The Walker Group. Wayne Brown is a fintech subject matter expert with over three decades of experience in the financial services and technology industries, including seven years as an auditor for a large global bank. In our conversation we tapped into Wayne’s extensive knowledge on everything from the cost of accepting cash in schools, to the need to mitigate the fraud that comes with accepting cash, and the changing nature of technology for payments.

Mastercard Considers How Schools Could Benefit from Less Cash in the System

ClassWallet had the opportunity to sit down with Carlos Cornejo, senior vice president, New Consumers and Public Sector Solutions at Mastercard to chat about financial technology and share insights for school business managers. Read on to learn about new advances and see what can be applied to your school.

School Money: Where Does It Go? The Problem of Accepting Cash in Schools

Learning and responsibility are core values of school districts; however, what often makes headlines is “fraud and mismanagement in schools.” How is it that schools are so susceptible to fraud? The reality is that when cash is accepted as payment for student activities there is opportunity for mismanagement.

The Cost of Cash in K-12 Education: Time, Fraud, Mismanagement & Safety

For as long as there have been schools, teachers have been collecting cash from students. Field trips, lunches, fundraisers, it’s easy for parents to drop some bills into a child’s backpack and teachers are collecting, receipting, aggregating and reporting the collection. School secretaries become drop boxes. This model leaves open, however, an avenue for misuse. School auditors have an easy time exposing fraud, waste and non-compliance.