Why don’t you use a company who is less expensive than Speedpay?
Our goal was to provide the service with the users of the service (not the entire membership) paying the cost of the service. We chose SpeedPay because of their demonstrated expertise in processing electric utility payments, they are used by many of the major utilities in the state, because they absorbed all programming and set-up costs, and no investment in equipment was required. We explored a convenience fee structure that was a percentage of the amount to be paid; however, Visa regulations allow only a flat convenience fee, and we did not want to offer a service that did not include Visa payments. Our alliance with SpeedPay was a compromise to allow us to accept credit and debit cards without having non-users subsidize the fee. The SpeedPay fee goes totally to them and we get the full amount of the SECO bill. It’s not perfect, but, for now, we’re trying it.
