It can also be used to purchase school supplies.
Mastercard recently launched another mobile payment offering allowing customers to pay for tuition fees via an app.
The Qkr app allows parents to save time by making school-related payments and transactions easily accessible in their mobile phones.
Mastercard Digital Payments and Labs chief commercial officer for commerce platform Bety DeVita shared that Mastercard also revealed its smart store technology for schools that enables parents to order supplies via the Qkr app, which their children can then pick up from automated vending machines with a quick scan of their student identification cards.
"With the launch of Qkr, we are aligning with Singapore’s Smart Nation Agenda and using technology and innovation to make commerce and payments easier for consumers and institutions including the department of education and schools themselves,” DeVita said.
The app uses Masterpass, the secure, digital wallet solution from Mastercard that speeds up the checkout process without requiring consumers to enter their financial and shipping information at every new merchant site. Masterpass provides a variety of payment options and accepts all credit cards.
The group said school administrators spend less time chasing up, processing and reconciling cash payments with the app.
"Holding less cash on premises also reduces security costs and risk. This option to pay through an app also creates efficiency by reducing queues at the school office, uniform shop and canteen," the group said.
Do you know more about this story? Contact us anonymously through this link.