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(EMAILWIRE.COM, December 09, 2008 ) Federal Payments, a service of ACH Direct, announced today the nationwide availability of their convenience fee credit card solution to SheriffÂ’s departments. This new processing capability allows fines to be paid with a credit card, but shifts the credit card processing fees typically associated with a merchant account to the consumer, or in this case the citation holder.
Transactions are initiated via a Verifone Vx570 high-speed point-of-sale terminal, which is available free with minimum processing volumes. For smaller SheriffÂ’s departments, there are additional free options for transaction capture.
In addition to providing an additional payment method for collecting revenue, cash handling can be reduced or even eliminated, mitigating the liability and associated insurance costs that can accompany cash collection.
In addition to POS credit card applications, Federal Payments can provide web-based solutions for look-up of fines by a citation holder and subsequent payment. As with the point-of-sale application, transaction costs are shifted to the consumer, resulting in a revenue neutral processing model. In addition to payment via credit card, payments by eCheck can also be made, with or without a guarantee.
Federal Payments is the first large scale provider of this no cost solution, having successfully pioneered the roll-out to one of its state clients. "In the first two months of the program roll-out, more than 500 Verifone (NYSE:PAY) point-of-sale terminals have been placed throughout the state’s DMV locations. At these locations, customers have opted to use their credit cards more than 30,000 times for approximately $2 million dollars each month, without incurring a single dime in processing expense,” Thorness commented. “Given this volume and that each customer is informed of the small convenience fee before opting to use their credit card, the program launch can be considered nothing but a huge success for both the state and its customers."
All state, federal or local government agencies are eligible to take advantage of this no cost program. For more information, visit www.FederalPayments.com, or call 866-764-2002. Other non-government sectors that are eligible for Federal PaymentÂ’s no cost processing service include: colleges, universities, utilities, and other qualified organizations.
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