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12-07-2015 Council Packet
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12-07-2015 Council Packet
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1/13/2016 9:23:49 AM
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12/8/2015 1:32:56 PM
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City Council
Council Document Type
Council Packet
Meeting Date
12/07/2015
Council Meeting Type
Work Session Regular
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Web Based Payments <br />Convenience Fee vs. Visa Utility Rate Fee <br />Assumptions: <br />4,850 Accounts billed Quarterly <br />10% participation in 1st Year <br />$200 Transaction Amount <br />Convenience Fee <br />Average <br />Cost Per <br />Annual Cost Transaction <br />Statement Fee <br />Monthly ($9.99/Month) $ 119.88 <br />Software Usage Cost <br />Per Transaction Swipe ($1/Transaction) <br />Account Access Charge ($0.60/Account/Year) <br />$ 1,940 <br />$ 2,910 <br />Industry Standard Transaction Charge <br />Gateway Transaction Fee ($0.30/Transaction) $ 582.00 $ 0.30 <br />Processor Fee (0.45% Basis/Transaction) $ 1,746.00 $ 0.90 <br />Interchange Charge (Visa, MasterCard, Discover) <br />Non -Utility Variable (0.80% - 1.90% Basis/Transaction $ 7,372.00 $ 3.80 <br />$ 14,669.88 $ 5.00 <br />Visa Utility Rate Fee <br />Average <br />Cost Per <br />Annual Cost Transaction <br />Statement Fee <br />Monthly ($9.99/Month) $ 119.88 <br />Software Usage Cost <br />Per Transaction Swipe ($1/Transaction) <br />Account Access Charge ($0.60/Account/Year) <br />Industry Standard Transaction Charge <br />Gateway Transaction Fee (Per Transaction) <br />Processor Fee (0.45% Basis/Transaction) <br />$ 1,940 <br />$ 2,910 <br />$ 582.00 $ 0.30 <br />$ 1,746.00 $ 0.90 <br />Interchange Charge (Visa, MasterCard, Discover) <br />Visa Utility Interchage (Per Transaction) $ 1,455.00 $ 0.75 <br />$ 8,752.88 $ 1.95 <br />
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