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May 22, 2009
Samford Updates Student Payment Options
Samford University has announced adjustments in payment options for student fees that include use of an external vendor for credit card payments.
Effective June 15, students and parents will be redirected to TouchNet, a third-party provider, for credit card payments. TouchNet accepts MasterCard, Discover and American Express, but does not accept Visa cards. There is a nonrefundable convenience fee assessed by the third-party web processor for credit card payments. The fee will be 2.75 percent of the amount paid, with a minimum fee of $3.
The university will continue to accept personal checks, electronic checks, money orders and in-person cash payments on student accounts with no service fee. Credit cards will be accepted in the university’s book store, dining hall and food court, as well as for online contributions to the university, also with no service fee.
Students and parents can continue to access electronic bills through Samford’s website, where they will be redirected to TouchNet if they choose the credit card payment option.
The use of a third party provider is not unusual in higher education, according to Harry B. Brock III, Samford’s vice president for business affairs. The university has used third party providers for several years for ticket sales and some other services.
TouchNet is one of the largest vendors in higher education and provides secure payment options, Brock said.
The new process provides a “compelling” cost savings for the university, Brock noted. “We are doing all we can to ensure that Samford is a good steward of the financial resources which the university has. We still offer many convenient payment options for our students and parents that are available with no fees.”
