High-grade students from the New School (Moscow) have launched a pilot cashless payment system for the annual school charity fair with help from Inbank and their parents employed at Yandex.Money.

According to the bank’s press department, the fair traditionally dealt with wooden tokens serving as coins. The students’ payment system, created in 2019, is an innovation for the event.

After consultations with experts, the students took a record short period of time (3 weeks) to develop the concept, work out client experience, define the requirements to the school payment system, and master the agile format in cooperation with a coding and web-development expert.

Raising awareness about the system and implementing were key tasks for the students. For that purpose, they created a communication policy and held a number of events. Just like a senior team working on any serious project, the students thought the risks through and coordinated the restrictions for the pilot project together with the school fair administration.

The result of their work was the launch of the payment system into the real world at the fair. Sellers and buyers were offered to operate with e-wallets available in iPhone and Android apps.

In this payment system, users deal with each other via mobile apps. Member of the school firm delivers the bill as a QR code on the smartphone and the visitor scans it via the mobile app.

“The absence of failures and emergencies shows that with professional support, modern children can realize complex fintech projects quite successfully,” Inbank said.

The New School is a private school operating in the format of an education center. Courses, workshops, lectures, meetings, concerts and performances are open to anyone who cares about development, from preschoolers to adults.

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