Higher Education Payment Processing System

The Vendor is required to provide comprehensive higher education payment processing system for higher education.
- Core functional requirements
• All in one higher education billing and payment solution
• Real-time interface with our student information system (anthology) or other similar solutions
• Students, parents, and authorized users must be able to view bills online and pay online using debit cards, credit cards, and electronic checks.
• Solution must provide the ability to issue student refunds electronically, including financial aid refunds
• Solution must provide payment plans for student balances.
• Integration for third party vendors to accept payment through the application.
• Including but not limited to:
• Anthology reach (CRM)
• Modern campus
• Cloud CME
• Point and click
• DSE rec
• Support future integration changes and provide integration flexibility for future institutional systems.
• Ability to test integrations before deployment
• Centralized payment gateway supporting multiple departments and merchant ids
• Branded, responsive web-based payment portals
• Role-based access and delegated administrative controls
• Support for hosted payment pages and embedded payment forms
• Ability to process payments without storing cardholder data within university systems
• GL coding support
• Departmental fund mapping
• SIS/ERP reconciliation balancing
• Deposit reconciliation
• Chargeback management workflows
• Refund approval workflows
• Separation of duties controls
• Cashiering functionality
• Duplicate payment prevention
• Settlement balancing reports
• Daily reconciliation automation
• Test environment
• Sandbox environment
• Chargeback workflows,
• Dispute management,
• Evidence submission,
• Response deadlines,
• Liability allocation
- Payment methods
• Credit cards (visa, MasterCard, discover, American express)
• Debit cards
• ACH / check payments
• Digital wallets (apple pay, google pay)
• International payments and foreign currency support
• One-time and recurring payments
• Student payment plans
- Integration requirements
• Student information system (SIS)
• Enterprise resource planning (ERP) and financial systems
• Integration methods shall include:
• APIs and web services
• Secure file transfer
• Real-time and batch processing
- Hosting and data management
• Vendor-hosted (SaaS) solutions are preferred
• Data centers must be located within the united states
• Vendors must describe backup, disaster recovery, and business continuity procedures.