I. RECOMMENDATION:
Staff has no recommendation. This item was requested as a Future Agenda Item by Councilwoman Stolz.
II. BACKGROUND:
At the Council meeting on January 3, 2019 the Coalinga City Council authorized staff to implement the account with Open Edge for credit card payments accepted by the City of Coalinga and absorb the fee associated with the accepting credit card payments.
III. DISCUSSION:
Paymentus currently provides electronic bill payment service for a fee of $2.95 per transaction in increments of $200.00. The convenience fee of $2.95 is charged to the credit cardholder and collected directly by Paymentus.
Staff has scheduled an installation date for the new credit card machines with Open Edge for February 26, 2019. Once the credit card machines are installed all payments accepted by the City of Coalinga will go through the City’s account with Open Edge. The fees charged by Open Edge will be paid by the City through the enterprise funds.
IV. ALTERNATIVES:
None.
V. FISCAL IMPACT:
The fees associated with the credit card payments will be paid by the City through the Enterprise Funds. The fee amount is unknown at the time as it is variable to the amount and volume of the payments received. |