New Cashiering System and On-line Credit Card Processing

Michael V. McKee, University Controller

The University is pleased to announce that it has chosen CASHNet, Inc. for the new campus cashiering system. The new cashiering system will include the ability to integrate all payments whether over the counter, departmental deposits, or web payments in a state-of-the-art platform which will provide flexible long-term functionality. The system also offers the potential to interface directly with campus departments to provide improved campus-wide departmental deposit processing.

Changes to Web On-line Credit Card ProcessingThe ability to process web on-line credit card payments is particularly significant to the University. These on-line credit card transactions are processed via the Integrated Student Information System (ISIS) or the University’s e-commerce system (I-Pay). The University will realize substantial savings by outsourcing these transactions and eliminating the costs associated with these credit card charges. CASHNet is scheduled to begin processing University credit card payments on July 26, 2005 and will add on a 2.6% service charge to all credit card transactions.

It is important to note that these changes only affect ISIS and I-Pay credit card processing. There are many campus departments that process credit card transactions face-to-face over the counter. In these cases credit card processing and costs to the departments will not change and VISA, MasterCard, and American Express will still be accepted.

University E-Commerce (IPAY) DepartmentsDepartments participating in the campus e-commerce program (I-Pay) will be charged 2.6% for these transactions. Because there is no service charge to the customer, Visa, MasterCard and American Express will continue to be accepted for these transactions. Current IPAY users are the Admissions Office, Housing, Business Services, Transportation and Parking, Reitz Union, Florida Energy Extension, Law School, and Occupational Therapy.

Student Tuition and Account Receivable PaymentsAll individuals using credit cards for student tuition or student accounts receivable payments on ISIS will be charged the 2.6% service charge. When this process begins students can pay on-line by credit card using MasterCard or American Express. Visa has elected not to participate in this program.

Students may also continue to pay their fees in a variety of ways without charge. They may pay in-person by cash, check, or debit card at the University Cashier S-113 Criser Hall. Mailed check payments are also accepted by the Cashier. If students would like to pay on-line using ISIS for no charge they may process an electronic check by choosing “EFT Sign Up” at http://www.isis.ufl.edu/isis-financial-information.html.

The remainder of the CASHNet cashiering system is scheduled for implementation during Spring Term 2006. The Controller’s Office will continue to inform UF departments of changes planned for the new cashiering system.

If you have any questions please contact Stuart Hoskins at 392-1321.