The vendor is required to provide merchant card services, which include credit card processing services, managed tuition payment services, and alternative online and mobile payment solutions.
- Credit card processing
• Authorization and settlement must be provided for Master card, visa, discover and JCB cards.
• Unless your firm can authorize and settle express transactions at the university’s contracted discount rate, those transactions will be passed directly to express for authorization and settlement
• Authorization and settlement should be provided for credit and debit card transactions through a variety of secure methods.
• Authorization and settlement should be provided for transactions generated from card readers, from computer-based pos systems, and from web-based e-commerce sites.
• Transactions will take place in a wide range of point-of-sale environments, card present and moto (key entered, ecommerce).
• Online reporting should be available at no charge to the university as a whole as well as to each university merchant
• This must include the ability for ad hoc reporting
• The university desires to have direct administrator capabilities to grant user access to online reporting systems to an unlimited number of system users.
• University settlement accounts should be funded within 24 hours requiring next day (after settlement) availability of funds, regardless of the financial institution that the university selects to receive the deposited funds.
• The university requires one depository bank account for all payment card receivables
• A merchant number (mid#), chain code, or other merchant account identifier must be included in the addenda fields for each settlement ach transaction.
• The university shall require settlement monies to be deposited via ach to the designated bank account of their choice within 48 hours of the transaction.
• On a semi-annual and annual basis, the merchant acquirer must provide a formal report to the university which summarizes the program for the six-month period ending December 31st and for the twelve-month period ending June 30th.
- Tuition payment management services
• The offeror should provide a solution that integrates with the web-based student tuition payment portal of our ERP system, sap
• The solution must support the passing of minimal student and payment amount data and then handle the collection of the credit card data and processing of the transaction on its own website and servers
• The solution must be able to provide acknowledgement back to sap to update the student account after an authorized or declined transaction.
• The solution must provide a method of processing card-present, in-person transactions utilizing EMV processing technology.
• The solution should have the ability to charge a percentage-based convenience/service fee in a method that meets the requirements of the visa government and higher education payment program, as well as the requirements of any other card brands.
• The solution must provide a method to charge the convenience/service fee for both card-not-present, online and card present, in-person transactions.
• Each payment method must present the customer with a confirmation message notifying them of the calculated convenience fee and offer an option to discontinue the payment prior to processing the transaction.
• The university desires a model where the offeror would incur all credit card processing costs associated with the individual merchant accounts for both the primary tuition payment and associated convenience fee and in turn would keep the revenue generated by the convenience/service fee.
• Online reporting should be available at no charge to the university as a whole as well as to each university merchant
- Optional services
• Solutions with which the university would be interested might include:
a. mPOS solutions
b. Centralized ecommerce solutions
c. Conference and event management platforms
d. Centralized receivables platforms.
- Contract Period/Term: 5 years