The purpose of Stored Payment Types is to give parents the option for different payment methods under different scenarios.  Example: A parent may want to pay tuition by ECheck but make pledge payments by Credit Card.  Allow the parents to store their donation information with a “Donation” Stored Payment Type and their tuition payment information with a “Tuition” Stored Payment Type

See also
Donation   
PCR Educator K-12 School Information System is an online database engineered for independent and private schools to deliver the highest level of flexibility, unique experience, transparent communication and customized design. Being a complete cloud-based solution, PCR Educator system guarantees convenient access anytime, anywhere.