Customer Story

Modernizing Student Payments: The Finix-Meadow Case Study

In an era of digital transformation, the partnership between Finix and Meadow is a significant step towards simplifying student tuition payments. By implementing Meadow Pay, a platform powered by Finix’s robust payment infrastructure, higher education institutions have seen a remarkable improvement in payment outcomes, including up to a 47% increase in on-time payments. It not only streamlines financial interactions for students, but also enhances transparency and reduces the operational burden on administrative teams.

This case study explores the journey of Finix and Meadow, their approach to modernizing payment platforms in higher education, and the tangible impact on institutions like William Jewell College. By leveraging data-driven insights, this partnership sets a new standard for seamless, secure, and efficient financial solutions in academia.

Background

Meadow was founded in 2021 and is the first modern fintech platform transforming the $500 billion U.S. higher education payments industry by solving the dual complexities of the tuition payment process for students and accounts receivables for universities. Finix brings its established expertise as a payments platform, offering secure and scalable solutions across a diverse range of industries, including healthcare, retail, and education.

Together, they collaborated on Meadow Pay, a modern platform that combines student billing, payments, and payment plans into a single streamlined and student-friendly experience, ensuring financial interactions are smooth for students and efficient for administrators.

Challenges in Higher Education

Institutions face a growing financial strain due to increasing accounts receivable (A/R) balances and resource shortages in administrative offices. Outdated systems, often reliant on manual processes, exacerbate these challenges, leading to delayed or missed tuition payments. Students, navigating cumbersome payment interfaces, late payments, frequently encounter friction, contributing to financial stress and administrative bottlenecks.

“We know that 42% of students that drop out of school do so for financial reasons, but many of these students do not drop out because they do not have the funds; they drop out because friction in the financial experience gets in their way,” said Amy Jenkins, COO of Meadow. “The success at William Jewell College demonstrates how Meadow Pay not only improves payment outcomes, but also enhances the overall student experience, which has always been our top priority.”

Meadow identified a critical need for a modern solution that would not only simplify payment processes for students but also support student accounting offices in managing A/R balances more effectively. Their research highlighted the importance of a modern, mobile self-service platform that minimizes steps in the payment process while also providing timely, automated reminders to students. This insight laid the foundation for Meadow Pay.

The Finix-Meadow Solution

The Finix-Meadow partnership culminated in Meadow Pay, a cutting-edge platform that transforms the payment experience for students and institutions alike by enabling students to complete transactions in just a few clicks.

“Seeing institutions achieve a 41% improvement in early payments reaffirms our mission to enable seamless financial transactions, empowering schools to focus on their core priorities,” said Richie Serna, CEO and Founder of Finix.

Central to the platform’s success is its ability to communicate effectively with users. Personalized reminders throughout the entire financial lifecycle ensure that students stay on top of payment deadlines, while the mobile-first design enhances accessibility, particularly for students accustomed to managing their lives via smartphones. For administrators, Meadow Pay offers a clear, transparent view of payment data, reducing manual workload and enabling more strategic financial management and operational efficiency.

Case Study Highlight: William Jewell College

William Jewell College exemplifies the transformative impact of Meadow Pay. Prior to adopting the platform, the college faced challenges with delayed tuition payments and limited resources in its student financial services office. Meadow Pay’s implementation marked a turning point, enabling administrators to streamline billing processes and achieve higher payment completion rates.

Students also embraced the platform’s user-friendly interface. Survey feedback underscored its simplicity, with one student noting, “It was incredibly easy to pay my bill—no need for a call or waiting in line.” This feedback highlights Meadow Pay’s success in reducing payment friction.

The impact is clear in William Jewell College’s payment data. Since launching Meadow Pay, the institution recorded a 47% increase in on-time payments. These results demonstrate the platform’s ability to drive timely payments and alleviate administrative burdens, paving the way for better financial outcomes across higher education.

Key Metrics & Impact

The Finix-Meadow partnership has yielded impressive results across partner institutions, with Meadow Pay projected to handle a total payment volume (TPV) of $120+ million by the end of 2025. For administrators, Meadow Pay has been a game-changer, significantly reducing the manual workload associated with payment processing. Student Account offices now have more time to focus on strategic priorities, thanks to the platform’s automated features and transparent data reporting.

Student feedback has been overwhelmingly positive, with surveys showing that over 85% of users found Meadow Pay “intuitive” and “easy to navigate.” This user satisfaction, coupled with tangible financial outcomes, underscores the platform’s value as a tool for modernizing higher education payment systems.