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Moneris Solutions to Provide Credit Card Services to Santa Clara University and Seattle Pacific University
CHICAGO --(Business Wire)-- Oct. 5, 2004 -- Looking to Meet Customer Demand for Credit Card Acceptance While Reducing the Burden of Transaction Fees, a Growing Number of Institutions Outsource Card Processing Services
Moneris Solutions, one of North America's largest electronic transaction processors, today announced that Santa Clara University (SCU) and Seattle Pacific University have selected Moneris to provide credit card processing services.
Under the agreements, these universities will outsource their credit card payment services to Moneris Solutions through their partner, infiNET. With the Moneris Solutions and infiNET Service Charge Program, students and third-party payers at SCU and Seattle Pacific University can now quickly pay tuition and fees with their credit cards. The payer will be assessed a fee for using the service, but the student and parents will still have the flexibility to directly pay the university via other no-cost payment options.
"This program has become increasingly popular for universities that are looking to eliminate the high costs associated with credit card acceptance," said Larry C. Wine, president, Moneris Solutions U.S. Group. "Decreased budgets and increased demands for more services have made the topics of cost reduction and cost avoidance daily terms in the higher education market. Outsourcing processing services is a growing trend in this market and Moneris Solutions and infiNET Solutions have developed a program that can potentially save universities hundreds of thousands of budget dollars each year."
These universities are using Moneris Solutions' services and support to accept credit cards through the Internet. The universities are currently equipped to accept MasterCard(R) and Discover/Novus(R) and will soon add American Express(R).
"Santa Clara University's decision to outsource the credit card payment services was made to more strategically utilize our financial resources," stated Harry Fong, Associate Vice President for Finance. "Outsourcing to Moneris has allowed us to reallocate several hundred thousand dollars annually to improve the educational and student services we provide. The assistance we received from Moneris and infiNET Solutions allowed us to implement an entirely new process for electronic billing and collection within a short period of time."
"We are grateful to have a partner like Moneris Solutions that understands the unique needs of the higher education market and delivers the cost-cutting solutions that help us achieve our financial objectives while maintaining varied payment options for our students and their parents," said Craig Kispert, Associate Vice President for Business and Finance, Seattle Pacific University.
Moneris will provide credit card processing services through infiNET Solution's QuikPAY(R) service, which is a fully integrated automated billing, payment and commerce solution for the higher education market. The Service Charge program will allow SCU and Seattle Pacific University the ability to offer their students and families the convenience of paying their tuition and fee statements online with a credit card.
About Moneris Solutions
Moneris Solutions (www.monerisusa.com) has a 30-year history as one of North America's largest electronic transaction processors, delivering advanced payment card processing capabilities through point-of-sale hardware, payment processing software, e-commerce solutions and a gift and loyalty program. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships. A joint investment of the Royal Bank of Canada and the Bank of Montreal, which have assets in excess of $700 billion, Moneris Solutions serves more than 350,000 North American merchant locations and has a staff of over 1,100 employees. U.S. headquarters are located outside of Chicago, IL.
About infiNET
infiNET (www.infinet-inc.com) provides innovative business services and software specifically to the higher education market. Established in 1997, infiNET has collaborated with many of the nation's colleges and universities to deliver superior technology and real business solutions that improve services and reduce costs on campus.
The Company's QuikPAY suite of automated billing, payment processing and eCommerce services are utilized by colleges and universities throughout North America as part of their overall mission to improve student services and create efficiencies throughout their institution. QuikPAY is the premier choice of over 40 institutions, serving more than 100 campuses and over 1 million students and families that have selected QuikPAY as their comprehensive, full-service Automated Billing, Payment Processing and eCommerce platform.
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